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  • We are helping you to transfer all the risks to the insurance company at a very affordable cost so as to maintain continuity of your business



 

Corporate Insurance

 

Do you know how to protect Your Business?

Most of us are acquainted with home insurance, life insurance and personal asset insurance such as cars. There are various policies provided by the insurance companies that help you financially in case a disaster strikes your home, life or to your personal assets. However, one important insurance cover that we often ignore is business insurance.

Building a business is all about possibilities, optimism and promise. However, many business owners fail to ensure adequate protection and security for their businesses. Thus, many a time businesses are forced to liquidate due to unforeseen circumstances.

Running a business comes with risk. Many external factors can influence the success or failure of a company. Why not take control of some of the risks that could derail the success and continuation of your business? Business Insurance pertains to a wide area of insurance coverage. You can be looking at ways to mitigate business risks from the departure of key personnel, or viability of business continuation. Or, you can be looking for alternatives to increase employee loyalty through the provision of insurance benefits

We provide a full range of risk management coverage for all business operations and this is essential as al businesses should be protected from unforeseen circumstances. It takes a lot of time and effort to build up a business and hence it's important to transfer the risks to insurance company.

You need to constantly review your business insurance plan, as in business, nothing is constant. Sit with our insurance consultants while doing the review. In the process you may understand the kind of plans that may directly benefit your business, avoid the unnecessary ones. Why pay more than you need to.

For eg, if a fire is to strike at the business premise, the stocks that are kept in the premise will be lost, you'll need to renovate the area, the business has to stop for some time etc. It'll be worse if the fire is to spread to your neighbours as the neighbouring companies will all sue against you for compensation. If there isn't sufficient insurance coverage, the loss will be coming from the company funds. Thus, to avoid such incident from impacting a company's cash flow, a comprehensive insurance coverage is essential.

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Do your business is PROTECTED

1. All risk coverage. All risk insurance covers direct physical loss to property insured unless the policy specifically excludes or limits the coverage. It includes protection from fire and other mishaps.

2. Property insurance. Property insurance covers damage to building that is the business premise, renovation of the property as well as stocks and equipments that are housed in the business premise.

3. Liability insurance. Liability insurance is an important cover in today's context as legal sues are common in businesses. Basic public liability insurance will cover you for damages to third party property or bodily injury. It covers a wide range of disasters from customer who injured himself when he slips in your business premise to property damage to your neighbour's shop during unloading of your goods.

4. Workmen Compensation insurance. Under Singapore context, all businesses that has employees who are manual workers or drawing a salary of under S$1,600 has to be covered under the workmen compensation insurance. This covers the workmen in the event that they meet with an accident during work.

5. Product liability insurance. Product liability insurance applies more to manufacturing companies that has their own product. This will cover all compensation if a faulty product has caused harm to others.

6. Errors and omissions insurance. This coverage is particularly important to service-based businesses. It offers protection should you make a mistake or neglect to do something that causes a customer or client some harm.

7. Consequential loss insurance. In the event that the business has to temporarily close down due to some mishaps, consequential loss insurance ensures that the loss of income and the sunken costs is taken care of.

8. Motor insurance. This is a mandatory cover under local context as all vehicles must be covered under a motor insurance before they can drive the vehicle.

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