Chubb announced it has enhanced to its Chubb Work Guard product, which is work injury compensation cover for Singapore businesses.
The enhanced wording will apply to all risks bound from Jan. 1, 2018, unless separately agreed.
At the core of the enhanced policy, is the broader suite of insurance coverages that encompasses Singapore’s 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, said Chubb in a statement.
Chubb Work Guard also offers benefits such as coverage for hospitalization leave and non-occupational accidental death and total permanent disability, both of which are beyond the statutory requirements.
Chubb said that 12 new benefits have been added to the product, which are:
- 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
- Traveling to and from work (excluding travel on two-wheelers)
- Contingent liability to independent contractors.
“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,” said Adam Clifford, Chubb’s country president for Singapore.
He said the product aims “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.”