When would employers need to purchase work injury compensation insurance for manual/non-manual worker?
$1,600 or less a month as stated in the Work Injury Compensation (WIC) Act.
However, there are thin lines where employers might have mistook it for a fact. Lets us bring across to you some pointers brought up by MOM:
Project Insurance Policy
MYTH: My main contractor told me to buy a project insurance policy. But I have annual insurance policy already.
FACT: Your annual insurance policy may have excluded works at project sites or there are contract limits. Your annual policy should cover all works, including project sites.Please inform your annual insurer to ensure there is such coverage in writing.
Renewing Work Injury Compensation (WIC) Act
MYTH: I have not renewed my WIC policy for my employees. One week late should be fine. I will do it next week.
FACT: You must renew your policy on time before it expires.If an accident happens during the period when your insurance has expired and not renewed, you remain liable to compensate your injured employees. You maybe prosecuted for non-insurance.
Multiple Job Function and Policy
MYTH: I bought a policy declaring my employees’ occupations as general workers. This should be adequate even though my general workers are also required to drive at times.
FACT: Your WIC policy has to cover all the job functions of the employees, for example, it may comprise both general work and driving.
Health, PA and Work Insurance
MYTH: I already have a group health and personal accident (PA) insurance policy which is enough to compensate my employees injured at work.
FACT: Health and PA insurance policies are not meant to cover work related accidents.
Annual WIC and Compensation
MYTH: My workers are deployed to work on a project site and there is project work insurance by main contractor to cover them.
FACT: Your annual WIC insurance policy will first be used to satisfy a claim unless your project insurer informs MOM they will pay the compensation before the Notice of Assessment is issued.
NOW that is a whole lot of myth, busted. Many of us believe hear says but never do really look deep in it as the information could be from someone close. However, such practice might just be a little too risky when the time comes.
The above facts are taken from the MOM site, to know more about such facts, simply visit www.mom.gov.sg for more information.