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The Importance of Liability Insurance for Businesses and Professionals
Imagine running a successful business or offering professional services to a loyal clientele. Everything is going smoothly until the unexpected happens: a customer or end-user of your product gets injured, files a claim, or even sues. Without liability insurance, the financial and reputational consequences can be devastating. In today’s litigious environment, liability insurance is no longer a luxury; it’s a necessity. In this article, we’ll discuss the importance of liability insurance, its benefits, and real-world examples to illustrate why every business or professional should consider adequate coverage. What Is Liability Insurance? Liability insurance [...]
Forms of Liability Insurance that will Save Your Business
According to Statistics Singapore, small and medium-size enterprises employ about 71% of Singapore’s workforce and contribute 44% of the GDP. Unfortunately, without the right safeguards, such as liability insurance, to protect companies from lawsuits that could lead them to bankruptcy, employment and GDP will be affected adversely. Every business has some form of liability. If you manufacture products, you may be sued if the goods are faulty or substandard, causing property damage or bodily injury to 3rd parties. If you are in transportation, companies that use your services may bring a lawsuit against you. [...]
Protect Your Maritime Assets with Comprehensive Marine and Shipping Insurance in Singapore
In today's interconnected world, businesses rely heavily on efficient and secure transportation of goods across land, air, and sea. Whether you're shipping valuable cargo internationally or domestically, ensuring the safety and security of your shipments is paramount. Comprehensive cargo insurance, marine cargo insurance, shipping insurance, and freight insurance, plays a crucial role in protecting your investments and mitigating risks. In this article, we will delve into the importance of Marine Insurance and Shipping Insurance in Singapore and explore how ALLEGIANCE can help safeguard your assets. Marine Insurance: Protecting Your Marine Investments The maritime industry [...]
Mandatory Primary Care Plan for Foreign Workers: An Employer’s Guide
Introduction Over the past few years, Singapore has undertaken significant measures to enhance the healthcare and overall welfare of its foreign workforce. Notably, a pivotal stride in this direction has been the compulsory introduction of a Primary Care Plan (PCP) designed to benefit all eligible foreign workers. The PCP is a comprehensive healthcare scheme providing primary healthcare services which encompasses medical consultations and health check-ups, specifically tailored to the needs of foreign workers in Singapore. What is the Primary Care Plan (PCP) and what does it cover? From 1 April 2022, a significant change [...]
Employer’s Liability beyond The Work Injury Compensation Act (WICA)
In recent news, a migrant worker in Singapore won a lawsuit against his employer for negligence or breach of duty in workmen's safety. Some media reported this as a rare legal case, highlighting how the employer's failure to ensure workers' safety had severe consequences. The incident occurred when the employer ferried the workers in an overcrowded lorry, leading to the worker falling from the vehicle when another worker accidentally shoved him while rushing down the vehicle to avoid the rain. This unfortunate accident left the injured worker with leg surgery, 5 months medical leave [...]
Renewing a Work Permit in Singapore: A Comprehensive Guide
If you are an employer in Singapore, it is important to know how and when to renew a Work Permit for your foreign domestic worker or foreign employee. The process can seem daunting, but ensuring your employees have valid Work Permits to continue working in Singapore is essential. You should renew your migrant worker’s Work Permit 7 to 12 weeks before it expires to avoid any overstaying fines. It is also essential to renew the Work Permit before your worker travels overseas just before the Work Permit expiry date. Here is a step-by-step [...]
