Business Insurance in Singapore
Running a business comes with real operational and financial risks. From employee injuries to project delays, equipment damage to contractual guarantees — the right insurance ensures your business stays protected and compliant.
We specialise in arranging business insurance for contractors, construction firms and SMEs across Singapore.
Mandatory Insurance for Employers
Certain insurance policies are required by law in Singapore.
🦺 Work Injury Compensation Insurance (WICA)
Under the Work Injury Compensation Act, employers must insure:
- All manual workers
- Non-manual workers earning below the prescribed salary threshold
This covers medical expenses and compensation for work-related injuries.
👷 Foreign Worker Medical Insurance
Employers must provide medical insurance for Work Permit and S Pass holders to cover hospitalisation and surgical expenses.
💰 Foreign Worker Security Bond
For most foreign workers, employers must furnish a security bond to comply with Ministry of Manpower requirements.
Construction & Project Insurance
For construction businesses, project-specific coverage is often required by contract.
🏗 Contractors’ All Risks (CAR)
Covers loss or damage to construction works during the project period.
⚖ Public Liability Insurance
Protects against third-party injury or property damage arising from business operations.
📄 Performance Bond
Guarantees fulfilment of contractual obligations — commonly required for government and large commercial projects.
💵 Advance Payment Bond
Issued when advance payments are made to a contractor, protecting the client in case of non-performance.
📝 Tender / Bid Bond
Required during tender submissions to demonstrate financial commitment to a project.
Other Business Insurance Coverage
Beyond construction, we also arrange coverage for:
- Commercial Motor (company vehicles & lorries)
- Professional Indemnity
- Product Liability
- Equipment & Machinery Insurance
- Office & Retail Insurance
- SME Package Policies
Why Business Insurance Matters
Business risks can affect:
- Cash flow
- Contract eligibility
- Regulatory compliance
- Reputation
- Project continuity
The right structure ensures your business can operate confidently and meet contractual obligations.
Our Approach
We work closely with business owners to:
- Arrange mandatory insurance efficiently
- Structure project-specific policies
- Issue bonds aligned with tender requirements
- Provide clear breakdowns of coverage and terms
We understand the pace of construction and SME operations — and respond accordingly.
Need Business Insurance or Project Bonds?
Whether you are bidding for a new project or reviewing your current coverage, we can assist.