Product liability insurance in Singapore

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Product liability insurance, tailored for your business.

If you’re selling or manufacturing products, you can be held liable for any injuries or property damage caused by your goods.  

 

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What does product liability insurance cover?

Cover

Explanation

Coverage amount (example)

Typical premium

Hospitalisation and surgery

Covers medical expenses if your foreign worker gets injured

$15,000

 

Above amount is the minimum legally required by MOM.

From $75/year per pax

Personal accident (available as add-on)

Cash payout if your foreign worker suffers major harm (e.g. permanent disability, death)

$15,000

From $20/year per pax

 

Do I need product liability insurance?

If you hire a foreign worker, you must have foreign worker medical insurance as part of your hiring application to the Ministry of Manpower (MOM). This applies to work-pass holders, employment pass holders, and more.

Not purchasing foreign worker medical insurance is a crime. Offenders can punished by up to 12 months in prison.

What's the difference between foreign worker medical and WICA insurance?

Foreign worker medical insurance: Legally required for all foreign workers.

WICA insurance: Legally required for all manual workers, or workers earning below $2,100/monthly. 

Worker categoryCitizenship statusWICA insurance compulsory?Foreign Worker Medical insurance compulsory?
Manual labourForeignYes

 

(Because of manual labour profession)

Yes

 

(Because of foreign citizenship)

Manual labourLocalYes

 

(Because of manual labour profession)

No

 

(Because of local citizenship)

Office-based;

Outdoor supervisory

ForeignNo

 

(But highly recommended)

Yes

 

(Because of foreign citizenship)

Office-based;

Outdoor supervisory

LocalNo

 

(But highly recommended)

No

 

(Because of local citizenship)

 

How much does product liability insurance cost?

Cover

Coverage amount (example)

Typical premium

Foreign worker medical insurance

$15,000

 

Above amount is statutory requirement by MOM.

1-10 employees: from $75/year per worker

 

11-50 employees: from $69/year per worker

 

Personal accident (available as add-on)

$15,000

1-10 employees: from $17/year per worker

 

11-50 employees: from $6/year per worker

 

Must be purchased as add-on to foreign worker medical cover.

 

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