SAFEGUARDING YOU AND YOUR EMPLOYEES INTERESTS
(Work injury Compensation)
Work injury compensation (WIC)
WICA Insurance (or Work Injury Compensation Insurance) protects employees against injuries or illnesses contracted during the course of work-related activities. It allows employees to make compensation benefit claims and includes cover for death and / or permanent incapacity.
At Tan Insurance Brokers, we believe that employees are a vital part of any successful business. While it might be mandatory by law to purchase, there are certainly benefits of WICA that safeguards you and your employee’s interests:
Peace of mind
This can also be said to be mutually beneficial for both parties where you, the employer will be equipped with the necessary tools to address work-related injuries effectively while upholding legal obligations by MOM. Likewise, the importance of employees knowing that they are covered by workers’ compensation cannot be undermined as it enhances employee morale and reduce anxiety about potential financial repercussions of workplace injuries.
Increased Productivity
Your employers will be held accountable for providing a safe work environment under the mandatory provisions and regulations of Work Injury Compensation Acts which can potentially reduce workplace accidents and injuries, thereby minimizing disruptions and downtime caused by accidents.
Enhanced Employee Morale & Reduced Absenteeism
A safe working environment created through WICA compliance cultivates a happy workplace environment and when employees feel safe at work and believe that their employer prioritizes their well-being, they are less likely to miss work due to injury or stress-related issues. This, in turn, can reduce turnover rates, saving employers the costs associated with recruiting and training new employees.
Enhanced Reputation & Corporate Image
Differentiating from competitors by highlighting a positive track record in work injury compensation can provide a competitive advantage in recruiting talent and securing business opportunities. Furthermore, it can bolster overall company image and corporate social responsibility (CSR) initiatives where demonstration of commitment to ethical practices and caring for employees resonates positively with your business partners and community.
Comprehensive Coverage With Extended Benefits
Some insureds that come to us are unaware of certain extensions that can be tailored with additional coverages that suits your company and nature of business.
To and from work extension (including meal breaks)
WICA can be extended to cover injuries sustained by employees while commuting to and from work. The importance of extending coverage to cover for commuting injuries promotes fairness and consistency in the application of work injury compensation laws. The rationale behind this extension is to recognize that the risks associated with commuting and acknowledges that commuting is often necessary for most employees to fulfil their job duties.
Two wheelers (motorcycles or motorized scooters)
To ensure a comprehensive coverage for your “To and from work extension”, we can also include coverage for “Two Wheelers”. This mode of transport is common in Singapore especially those who are frequent travellers in and out of our borders or in the delivery services.
Unparalleled Experience In Work Injury Compensation Claims
In any business, there will be risks involved and unforeseen accidents.
Being in the business for half a century, we have often encountered employers fussing over claim issues that might potentially disrupt their business operations efficiency.
We pride ourselves in having an experienced risk advisory team where we can manage and assess the claims effectively while safeguarding your interests at the same time rather than outsourcing to a third party claim assessor. Our strong suit is that we provide timely and relevant information about potential risks and their implications. This enables informed decision-making and helps organizations navigate uncertainties effectively while pursuing their strategic objectives.
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Taking Care Of All Your Risk Management Needs.
Started in the 1960s as an insurance agency, Tan Insurance Brokers is led by a team of extremely experienced and qualified risk managers and advisors and has partnered numerous local and global enterprises for over 4 decades.
At TIB, you always come first. We’ve built our reputation on decades of putting customers first and our experts are always on hand to deliver personalised service and support.