|Monday, 8 January 2018, 10:00 HKT/SGT|
SINGAPORE, Jan 8, 2018 - (Media OutReach) - Chubb today announced the enhancement to its Chubb Work Guard(TM) 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."
About Chubb in Singapore
Chubb is the world's largest publicly traded property and casualty insurer. Chubb Insurance Singapore Limited, via acquisitions by its predecessor companies, has been present in Singapore since 1948. Chubb in Singapore provides risk management and underwriting expertise for all major classes of general insurance, including Property & Casualty, Marine, Liability, Financial Lines and Group Personal Accident insurance. As one of the leading providers of Accident & Health insurance through direct marketing, the company partners with financial institutions and other companies to tailor individual policies for their clients and employees. In addition, it offers a suite of customised Personal & Specialty insurance solutions to meet the needs of consumers. Over the years, Chubb in Singapore has established strong client relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength.
More information can be found at www.chubb.com/sg.
Chubb Insurance Singapore Limited
138 Market Street
Jan 8, 2018 10:00 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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