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Caculate your Work Injury Insurance premium:
Work Injury Compensation Insurance (WICA Insurance) protects your company against legal liability if your workers suffer injuries, or contract illnesses while working.
Work Injury Compensation Insurance covers:
1. Employer legal expenses to defend against work-injury lawsuits
2. Employee medical expenses for work-related injury or illness
Under Singapore’s Work Injury Compensation Act (WICA), employers are legally liable to pay compensation to workers who become hurt or sick while performing work-related activities.
In Singapore, it is a statutory requirement to provide Work Injury Compensation insurance for:
a. All workers who perform manual labour, regardless of salary level
b. All workers who perform non-manual labour, AND earn less than $1,600 a month
This type of insurance is one of the most common that SMEs purchase. It’s usually very affordable, while providing generous coverage. We highly recommend this type of insurance for all employers, given that your most valuable assets are often your employees.
What Does Work Injury Compensation Insurance Cover?
It covers two parties:
Coverage for employers:
1. Legal defense costs from employee lawsuits
2. Legal damages to employees injured while working
Coverage for employees:
1. Medical expenses
2. Lost wages while on medical leave (includes salary, bonus, overtime pay, food and housing allowances, but excludes CPF payment)
3. Lump sum compensation for death, or total permanent disability
What types of Covid-19 costs does this cover?
This type of insurance will pay for:
a. Medical expenses
b. Lost wages while on medical leave (includes salary, bonus, overtime pay, food and housing allowances, but excludes CPF payment)
c. Lump sum compensation for death, or total permanent disability
What Does Work Injury Compensation Insurance Not Cover?
Injuries or illnesses that do not occur directly because of work activity
Injuries incurred as a result of actions that violate company policy
Injuries or illnesses sustained from drug or alcohol use
Do I Need Work Injury Compensation Insurance?
If your business or your employees are involved in the following, then this type of insurance is particularly critical for you:
Labour intensive industries: construction firms, renovation & interior designers, manufacturing firms, warehouse/storage firms, food & beverage establishments, retail stores, etc.
Frequent exposure to outdoor environments: on-site engineers, technicians, goods delivery, road works, building painters, vehicle towing, car-washing, etc.
High-hazard industries: scaffolding, shipyards, any business doing offshore work, fishing, working with aeroplanes, etc.
How Much Work Injury Compensation Insurance Do I Need?
For SMEs, it’s advisable to have $50,000 to $100,000 in coverage per employee. Coverage amounts depend on your industry and budget.
Under Singapore law, these minimum coverage amounts are required:
Death – $57,000
Permanent Disability – $73,000
Medical expenses – Up to $30,000, or 1 year of expenses from the date of accident, whichever is reached first
How Much Does Work Injury Compensation Insurance Cost?
Non-Manual Worker: Starts from $5/month, per worker
Manual Worker: Starts from $15/month, per worker