Chubb has announced the enhancement to its Chubb Work GuardTM product -- a Work Injury Compensation Insurance for Singapore businesses. The enhanced wording will apply to all risks bound from 1 January 2018, unless separately agreed.
At the core of the enhanced policy, is the broader suite of insurance coverages that encompasses Increased Common Law Limit and Increased Medical Expenses provision. These have been incorporated to meet the evolving business needs in the face of changing workplace safety and health management systems in Singapore.
Chubb Work Guard also offers benefits such as coverage for Hospitalisation Leave and Non-Occupational Accidental Death and Total Permanent Disability, both of which are beyond the statutory requirements. Twelve new benefits have also been added:
- Traditional Chinese Medicine expenses
- Replacement Staff/Recruitment Costs
- Funeral Expenses
- Continuous Worldwide Bed Confinement
- Accidental HIV Infection
- Terrorism Benefit -- Injury (Lump Sum)
- Terrorism Benefit -- Witness (Lump Sum)
- Terrorism Benefit -- Incapacity (Lump Sum)
- Workplace Trauma Benefit
- 24-hour Cover on Worldwide Business Travel
- Travelling to and from Work (excluding travelling on two-wheelers)
- Contingent Liability to Independent Contractors
Adam Clifford, Chubb's Country President for Singapore said, "To ensure a holistic and progressive solution for businesses in Singapore, we have redesigned our product offering so that it remains competitive and tailored to our clients' needs. With our deep market insight and commitment to quality service, we aim to provide a best-in-class solution for our existing and potential clients so they have adequate protection to mitigate the impact of a workplace accident."