Commercial Insurance: A Review
Commercial insurance insures companies, freelancers, or casual workers from liability lawsuits, property ruin, cyberattacks, or more hazards which might damage business finances.
Commercial insurance: A definition
Any small-scale enterprise demands massive amounts of energy, time, or cash to operate profitably.
Within business managing capacities, one seeks to preserve this capital, while expanding business profits.
Commercial Insurance, alternatively termed Business Insurance, might insure one’s company from heavy damages including theft, injuries, property ruin, or lawsuits.
Small-scale company proprietors may buy various forms of commercial insurance protection, that insure them from monetary losses resulting from some range of circumstances.
Usually, Commercial Insurance insures one’s company from conventional hazards, or risks, like:
Client Lawsuits
Property Burglary or Damage
Client and staff injuries
Unanticipated occasions
This precludes insuring one’s company over any random, minor, petty event, still, company insurance could prove a possible lifeline for (potentially) heavy, exorbitant damage.
Commercial insurance: Various forms, versions, types, formats, uses
Various versions, formats of commercial insurance are peddled on the market, developed to cater to extensive varieties of company demands.
Different policies ensure specific hazards which one’s company might encounter.
Mentioned further are several high-incidence forms of commercial insurance policies you might face with operations mobilizing technology:
Errors and omissions insurance (E&O), alternatively termed as Professional Liability Insurance, insures one’s technology business from liability upon any client’s lawsuit for any lapsed project, coding mistakes, and other errors, mishaps, accidents, or negligence.
Commercial Insurance |
BLACAZ |
| Specialty | As a CEO, CFO, HR, or Entrepreneur they help you to secure every aspect of your business to protect your assets by providing all-in-one services, that will simplify your insurance experience and save time for your daily operations. With Digital Insurance Platforms, manage your company’s insurances with online access.
Services: Employee Health & Benefits, Professional Indemnity Insurance, Cyber Risks Insurance, Work Injury Compensation, Business Liability Insurance |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.blacaz.com/ |
| Address | 100 Amoy St Singapore, Singapore 069920 |
| Telephone | +65- 6958 1177 |
| Opening hours | 9 am to 6.30 pm |
| Review 1 | Highly knowledgeable, excellent service and responsiveness |
| Review 2 | Thank you for picking up the phone so quickly and answering all my questions about health insurance. The guy on the line (can’t remember his name) was very helpful, knowledgeable, and never pushy. Really appreciate it! |
| Review 3 | Finally, a broker that has a great knowledge of the art assets! |
Commercial Insurance |
MSIG |
| Specialty | Commercial Insurance: From your premises to the machinery and assets within, leave nothing uncovered. Safeguards physical and financial assets under a wide cover, including accidental loss or damage to your business assets and inventory. Offers a basic and affordable cover for your building and contents against fire and other perils.
Services: Physical and financial assets, Fire & Perils, fire, explosion, water damage, natural disasters |
| Pricing | Request a quotation: [email protected] |
| Website | http://www.msig.com.sg/ |
| Address | 4 Shenton Way, #21-01, Singapore 068807 |
| Telephone | +65-68277602 |
| Opening hours | 8.45 am to 5.30 pm |
| Review 1 | Many thanks to Rosalind Wong, Senior Executive for Claims for handling my case. She has great sensitivity with regard to my recent bereavement. Rosalind has a pleasant personality and has good communication skills. I really appreciate the efficiency and flexibility that she has an exercise to help settle my claims. |
| Review 2 | My kids were covered under the MSIG accident plan and the claims were all done online. No questions asked and check received promptly. Keep up the good work!! |
| Review 3 | convenient location. friendly and helpful staffs |
Commercial Insurance |
Chubb |
| Specialty | Commercial Insurance: The business environment is constantly evolving, and so are its risks. That’s why, no matter the size and type of your business, they have commercial insurance products and solutions to manage all of it. A group insurance plan to help employers care for the well-being of their employees.
Services: Group Business Travel Insurance, Group Critical Illness Insurance, Group Personal Accident Insurance, Recover & Return Insurance, Worksite Marketing Care Program, Work from Home Insurance |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.chubb.com/sg-en |
| Address | 138 Market St, #11-01 Capita Green, Singapore 048946 |
| Telephone | +65-62990988 |
| Opening hours | 9 am to 6 pm |
| Review 1 | Cindy and Gayle are always prompt in their replies, their messages are clear and concise. They handled my claim very professionally. |
| Review 2 | My claim for a lost jewelry item was handled with much professionalism and promptness. Ms. Gayle Shepherdson, the Claims Officer who processed my claim, was knowledgeable, courteous, and most efficient. I would highly recommend Chubb Insurance to anyone looking for a good and reliable Home Insurance policy. Thank you, Gayle and Chubb! |
| Review 3 | Chubb Masterpiece is a must-have product for keeping all the belongings of you and your family secure and giving you peace of mind.
My pride and joy watch was badly damaged in an accident and the claim was handled extremely quickly and professionally. And this isn’t the first time Chubb and their agents have swooped to the rescue in such a fashion. The lifesaver that transformed my feelings of heartbreak into relief was Gayle Shepherdson. Thank you, Gayle. |
Commercial Insurance |
FWD |
| Specialty | At FWD, they are sole insurers to offer private-hire drivers like Grab, Ryde, Go-Jek, drivers the option to buy car insurance online. Their comprehensive commercial car insurance provides their unique 50% NCD lifetime guarantee and the best income protection. So, you can be sure you’re covered on all fronts.
Services: Repair costs, commercial car insurance, FWD premium workshops, vehicle repairs, medical expenses, third-party damages |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.fwd.com.sg/ |
| Address | 6 Temasek Blvd, #18-01 Suntec Tower, Four 038986 |
| Telephone | +65-6820 8888 |
| Opening hours | 9 am to 6 pm |
| Review 1 | I would like to compliment Ms. Donna Ang, the Assistant Manager of the Customer Engagement Team. Initially, I had encountered issues with the policy issuance and referral for my friend, Mr. Raymond Wee. After corresponding with Donna, she has tried her best to address all these issues. With her prompt follow-ups and swift engagement with the relevant FWD teams, she has managed to resolve all our issues, much to our satisfaction. Once again, we would like to express our appreciation to Donna and the FWD team for taking swift steps on the service recovery process, providing both myself and Raymond a great customer experience. |
| Review 2 | So far, an extremely professional, friendly, and prompt customer experience. Our issue was responded to immediately by a friendly phone call from Koki G followed by an email explaining the next steps that will be taken.
FWD is setting a great example as to how customer issues can, and should, be handled. I highly recommend FWD based on this experience. Thank you. |
| Review 3 | Good service to Miss Tracy Hwang. Cause she is so patient and polite while guiding me to renew the policy. And she is in a well-organized and competent way of doing her job. Keep it up and all the best to you. |
Commercial Insurance |
Income |
| Specialty | Protect your business enterprise against various risks such as fire, theft, and work injury compensation. They cover the loss, damage of stocks, furniture, fixtures, fittings, and other contents. They cover the loss or damage resulting from theft including robbery, hold-up, or any attempted threat, liability under Work Injury Compensation Act.
Services: Damage of stocks, furniture, fixtures, fitting, other contents. Business Insurance Package |
| Pricing | Require a quotation: [email protected] |
| Website | https://www.income.com.sg/ |
| Address | 75 Bras Basah Rd, Income Centre, Singapore 189557 |
| Telephone | +65-67881777 |
| Opening hours | 9 am to 5.30 pm |
| Review 1 | Friendly staff. Answer to your queries for the product you buy from them such as an investment, insurance and etc. |
| Review 2 | Service: 5-Star: The lady who handle my request to buy travel insurance was bubbly and serve me with recommendations, neither pushy or ignoring me for my “small business”. Kudos to NTUC for hiring her, 👍🏻😊😁 |
| Review 3 | We are so happy that Mr. Chui, has helped us to do the Eldershield claim on 30 April 2019 at Westgate at 4.30 pm. His very friendly attitude and helpful way really touched our hearts. We would like to thank him for his humble working attitude. Thumbs up. Cheers. |
Commercial Insurance |
AXA |
| Specialty | You can cover your physical assets and personal property (includes furniture, fixtures, fittings, decorations, machinery and equipment, trade samples or stock-in-trade) against accidental loss, destruction, or damage by an insured event. They will compensate for claims for third parties’ death, injury following an accident that your business is responsible for.
Services: Physical assets, personal property against accidental loss, destruction, or damage, by an insured event, Work Injury Compensation, Public Liability |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.axa.com.sg/ |
| Address | 8 Shenton Way, #24-01 AXA Tower, Singapore 068811 |
| Telephone | +65-68804888 |
| Opening hours | 9 am to 5.30 pm |
| Review 1 | Called the general line to enquire if there is any outstanding payment for my car hire purchase loan. Was attended by an excellent customer service agent (Jake). Explained clearly the status, and even gave me a follow-up call. Best customer service I’ve received from an insurer to date. |
| Review 2 | They answered calls very fast, that was good. They addressed my questions |
| Review 3 | Sweet female voice receptionist. AXA should sell motorcycle insurance instead of referring me to below standard ANDA insurance. I give overall 4 stars for the bad recommendation. |
Commercial Insurance |
Aviva |
| Specialty | Cover for your small and medium enterprise: Do not let things go wrong. Protect your business against risks and exposures with their complete protection solution. From public liability, protection against property damage, and many more. They make advance upfront claims payment upon admission of the claim. Risks coverage to S$2 million.
Services: Accidental loss, Public Liability, Work Injury Compensation, Increased Cost of Working, Business Interruption |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.aviva.com.sg/ |
| Address | 4 Shenton Way, #01-01 SGX Centre, Singapore 068807 |
| Telephone | +65-68277988 |
| Opening hours | 8.45 am to 5.30 pm |
| Review 1 | So far so good! Happy with the 2 savings policies I have with Aviva as I feel the returns are competitive. Out of convenience, I also tend to use Aviva for travel insurance whenever I travel – the purchase process is very simple and straightforward. |
| Review 2 | I called in and I was impressed by the customer service girl who was professional and friendly. |
| Review 3 | Being an AVIVA Customer, claims is not a hassle, they have a multitude of advisors willing to help with all issues that you have.
Key points in their product range in protection, but their savings are not their strong suit. |
Commercial Insurance |
Great Eastern |
| Specialty | Business security plays a critical role in ensuring uninterrupted and worry-free operations. However, being extra careful at work or with your property is not enough. You need to anticipate and take the necessary measures to minimize damages and/or losses caused by unforeseen circumstances, natural calamities, work-related accidents, liabilities, and fraud.
Services: Business protection plans, Business security, minimize damages and/or losses, natural calamities, work-related accidents, liabilities, fraud |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.greateasternlife.com/sg/ |
| Address | 1 Pickering St, #01-01 Great Eastern Centre, Singapore 048659 |
| Telephone | +65-62482000 |
| Opening hours | 9 am to 5.30 pm |
| Review 1 | Went to GE @PLQ3 to enquire about my policy payment. Was served by CSO Cheryl Tye(or Tey) who was nice, patient, and polite. The office is spacious and nice too. Worth the trip there. |
| Review 2 | Good service. Able to accede my request n send within respond same day though it was new years eve |
| Review 3 | Wow… impressive digital enhanced security features… spacious areas for customers safety and comfortable experience… Uncle Mike. |
Commercial Insurance |
Etiqa |
| Specialty | Their business packages ‘BOSS’ (Business Owners Super Suite), is specially tailored to cater to the needs of small to medium-size businesses for various trades. Etiqa Insurance Business Owners Super Suite – Personal Services is specifically designed for small and medium businesses carrying out Personal Care Services. Public Liability protection.
Services: Public Liability, Work Injury Compensation, Product Liability, Malicious Attack, Business Interruption, Goods in Transit |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.tiq.com.sg/ |
| Address | 16 Raffles Quay, Hong Leong Building, #01-04A, Singapore 048581 |
| Telephone | +65 6887 8777 |
| Opening hours | 8.30 am to 5 pm |
| Review 1 | Is user-friendly to purchase a policy online!
The product I bought has great benefits n reliable too. Responsive n friendly customer service 👍👍 |
| Review 2 | Kudos to the staff who patiently attended to all my enquiries and requests! Great job |
| Review 3 | Excellent Portal Easy to apply for and get insurance.
Also, the Portal offers options to chose the benefits we want at competitive rates However, we would like to see insurance for up to 3 years like many other competitor portals |
Commercial Insurance |
Tokio Marine |
| Specialty | TM Business Suite is a comprehensive business insurance package product providing multiple insurance covers for your Business. Also, you have the power to customize your coverage through their Suite Selections A critical defense against elements that can disrupt or damage your Business. Peace of mind at the most affordable rates.
Services: Property All Risks, Business Interruption, Money, Personal Accident, Public Liability, Work Injury Compensation |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.tokiomarine.com/sg |
| Address | 20 McCallum St, Singapore 069046 |
| Telephone | +65- 6221 6111 |
| Opening hours | 9 am to 5.30 pm |
| Review 1 | I had transferred funds for my motor car insurance to Tokio Life Insurance. The Tokio Life Insurance refunded my funds promptly. |
| Review 2 | Good customer service 🙂 |
| Review 3 | Good service, very helpful |
Commercial Insurance |
UOB |
| Specialty | Protect what matters: You put your heart and soul into building your business, so it’s crucial to protect it. From guarding against unforeseen accidents or losses to protecting your most important asset — your people. Protect your business against business interruption with an SME-tailored plan. Be ready for whatever comes along.
Services: Public Liability, All Risks, Burglary, Cyber Risks, Fidelity Guarantee, Increased Cost of Working |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.uob.com.sg/ |
| Address | 53 Ang Mo Kio Ave 3, #B1-34, Singapore 569933 |
| Telephone | +65-1800-2222121 |
| Opening hours | 11 am to 6 pm |
| Review 1 | Helpful staff. Satisfied with services. Staff courteous. |
| Review 2 | Visited for CNY New Notes collection. Reserved via Uob online website. 5-6 pm appointment time.
Arrived at 5.45 pm. Only 1 person in the queue to 2 counters. Provided my IC, signed the withdrawal document, and off I go within 10mins. Well managed. |
| Review 3 | Friendly staff willing to help |
Commercial Insurance |
AIG |
| Specialty | AIG offers simple packaged products with essential coverage for micro and small businesses, as well as bespoke solutions for more complex insurance needs. Suitable for a wide range of SME businesses; from a single office premise for self-employed business owners to a multi-dimensional retail company. Business Interruption. Work Injury Compensation.
Services: Property All Risks, Business Interruption, Burglary, Public Liability, Work Injury Compensation |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.aig.sg/ |
| Address | 78 Shenton Way, #09-16 AIG Building, Singapore 079120 |
| Telephone | +65-64193000 |
| Opening hours | 9 am to 5 pm |
| Review 1 | One-stop general insurance needs. |
| Review 2 | A place for all your insurance needs. |
| Review 3 | There is a nice cost Starbucks cafe there. AIG has great insurance products. |
Commercial Insurance |
DBS |
| Specialty | Commercial General Insurance underwritten by Chubb helps to take care of your business assets, operations, and employees, so you have more time to focus on your business operations. Protect your business from external risks and unexpected events. They will help identify your protection needs, offer customized solutions. Transfer your risk.
Services: All risks insurance, Burglary insurance, Fire insurance. Machinery all risks insurance, Money insurance |
| Pricing | Request a quotation: https://www.dbs.com.sg/personal/bank-with-ease/contact-us |
| Website | https://www.dbs.com.sg/ |
| Address | #02-50, 520 Lor 6 Toa Payoh, HDB Hub, 310520 |
| Telephone | +65-1800-1111111 |
| Opening hours | 10 am to 5.30 pm |
| Review 1 | Very good customer service. Was able to sit down while waiting for my turn. The bank teller was able to show me how to find e-statement on my mobile. |
| Review 2 | Ms Kwek offered me the very best excellent service me at 08: 41 hrs on Friday 28 / 8 / 20 _ thanks again |
| Review 3 | The place just upgraded. Service is fast |
Commercial Insurance |
Standard Chartered |
| Specialty | Commercial All Risks Insurance protects your valuable business assets from physical loss or damage arising from any accidental causes, like fire, flood, theft, impact damage. Valuable business assets like your business plant and machinery, stocks and materials in trade, office equipment and content are some of the typical assets covered.
Services: Business assets, physical loss, damage, accidental causes, fire, flood, theft, impact damage |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.sc.com/sg |
| Address | 6 Battery Rd, Singapore 049909 |
| Telephone | +65-67477000 |
| Opening hours | 10 am to 5 pm |
| Review 1 | Due to some unforeseen circumstances, I have to close my account with the bank. Received polite and friendly service, especially from the manager Sam, who answered my questions patiently. |
| Review 2 | Opening on 17 June 2013, Standard Chartered Jem Branch provides full banking services with extended hours for your convenience. |
| Review 3 | Friendly and knowledgeable staff! Very helpful at the counters and good alternatives are given for FD. |
Commercial Insurance |
AKGI |
| Specialty | Mitigate your risk from unforeseen events that may affect your business operations. Their team will analyze your risks based on your industry and risk exposure, to recommend you the right business insurance solutions. Leave the risks to them, so that you can focus on bringing your business to greater heights.
Services: Commercial Insurance, Financial Lines Insurance, Liability Insurance, Marine Insurance, Errors & Omission, Directors & Officers Liability |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.akgi-sg.com/ |
| Address | 5001 Beach Road #08-43 Golden Mile Complex Singapore 199588 |
| Telephone | +65-6656 3626 |
| Opening hours | 9 am to 6 pm |
| Review 1 | AKGI and Alison were fantastic in their service. Super responsive and great communication. Would highly recommend it! |
| Review 2 | Very happy with the service provided by AKGI. The team is very committed and customer-friendly. |
| Review 3 | Alison had been very helpful and patient throughout the whole process. Would highly recommend her services. |
Commercial Insurance |
Prudential |
| Specialty | Attract, motivate, and retain your staff with Prudential Enterprise Solutions. Protect them against unforeseen circumstances. Seamless and personalized digital solutions for policies, benefits, and transaction administration, simplifying insurance management for HR and employees. Competitive and customizable group insurance coverage that suits all enterprises, large and small. Health and Wellbeing Services.
Services: Flexible Benefits, A holistic wellness program, Value-added Services, Ready packages for 3 – 200 employees, supporting SMEs, employee insurance |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.prudential.com.sg/ |
| Address | Marina One the Heart #01-18/19, 5 Straits View Singapore, Singapore 018935 |
| Telephone | +1800 333 0333 |
| Opening hours | 9 am to 5 pm |
| Review 1 | Makes you wonder what happened to the customer 4 weeks ago but I’m on the receiving end of a gold standard service today. From the security guard to the receptionist to my customer service officer – they were all attentive, helpful, patient, and all smiles. The guard suggested and walked with me to show me where to go for coffee when I was too early. The receptionist told me not to hurry and to put down my things before registration. My CSO answered all my questions and explained clearly all my available options. She prepared all the necessary forms meticulously, checking and validating everything. Really feels good to be served, first class. |
| Review 2 | Very professional from making the online booking to meeting the counter staff. They are doing very well to make sure all visitors are protected. And I made a good decision after speaking with them. |
| Review 3 | My wife and I were served by Nazeer at the Customer Service Centre and we were very impressed. He is detailed and clear with his explanation. He also shared his views and experiences in such a way that showed he really cares about our needs and not just by doing it as the job requires him to do. Prudential is blessed indeed to have such good people to serve the customer’s need and hope that such good service standards will continue to build up customers’ confidence and trust. Keep up the good work Prudential and Nazeer! |
Commercial Insurance |
Manulife |
| Specialty | An investment-linked plan that lets you personalize your coverage levels for potential growth. 100% of your regular basic premiums paid are put to purchase fund(s) units. Unit allocation rate increases to 102%1 from the 4th year, and to 105%1 from the 7th year. Get invested from just S$100 per month.
Services: Cash Rewards pay-out, investment-linked plan, basic premiums, purchase fund(s) units, Unit allocation rate, pay-outs |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.manulife.com.sg/ |
| Address | 8 Cross Street, #01-01A, Manulife Tower Singapore, Singapore 048424 |
| Telephone | +65-6833 8188 |
| Opening hours | 9 am to 6 pm |
| Review 1 | I would like to thanks Mr. Choah Wee Su for his excellent follow-up. He Is willing to go the extra mile to help & clear my doubts regarding my insurance policy. I feel that his hard work should not go unrecognized. |
| Review 2 | A most conducive meeting place for clients and customers. A modernized office building where you can relax and de-stress after a hard day’s work. |
| Review 3 | Knowledgeable customer service officer who was able to assist me on my policy’s request. |
Commercial Insurance |
OCBC |
| Specialty | Coverage for mandatory WICA. WICA is a statutory requirement for all Singapore employers that lets employees make claims for work-related injuries and illness. Coverage for business types includes office, service, retail, restaurant, and trading / wholesale activities. Quick policy insurance in 10 working days. Fire, lightning, perils on cargo, stock-in-trade.
Services: Fire, lightning, perils on cargo, stock-in-trade, employee claims, work-related injuries, illness |
| Pricing | Request a quotation: [email protected] |
| Website | https://www.ocbc.com/personal-banking/insurance/hospitalwise-protection-plan |
| Address | 634 Bukit Batok Central, #01-108, Singapore 650634 |
| Telephone | +65-1800-3633333 |
| Opening hours | 11 am to 7 pm |
| Review 1 | Bank associate Angie Poh; kind, courteous, and patient. People are so negative these days, it’s the little details like this that deserve to be shone upon. |
| Review 2 | Very good service! Today I came just before the branch closed, but the officer in row 15 happily helped me to open an account. He even apologized for the long process, which is I think quite fast actually. Hope the service is maintained and getting better. |
| Review 3 | The bank did the necessary to ensure an orderly manner in view of the COVID19 pandemic. The counter staff was friendly and professional despite their long working hours at this outlet until 7 pm. I’m delighted to be an OCBC customer. |
Commercial Insurance |
Citibank |
| Specialty | Citibank offers a comprehensive suite of business insurance products and the benefits of a one-stop service for your business so that you are free from the hassle of managing different insurers. Prudent risk management helps to safeguard and preserve the continuity of your business. Solutions to protect the business against risks.
Services: Business insurance products, risk management, Business protection, safeguard, preserve the continuity of your business, meet business challenges |
| Pricing | Request a quotation: https://www.citibank.com.sg/citibank-contact-form/index.htm?path=/global_htm/forms/contact/contact_us.htm |
| Website | https://www.citibank.com.sg/ |
| Address | 60A Orchard Rd, Singapore 238890 |
| Telephone | +65-62255225 |
| Opening hours | 24/7 |
| Review 1 | Great Service! |
| Review 2 | I have funds in a US Citibank account that I wanted to transfer without conversion but my local account is obviously in SGD so I needed to open a USD account.
Jared Ong, a very professional, knowledgeable, and friendly front staff, told me about Citibank Global Wallet, helped me with the whole setup, as well as easily answered any questions I had, making the whole process super smooth and such a breeze |
| Review 3 | Good service and support. |
Commercial Insurance |
HSBC |
| Specialty | You put so much into your business – it makes sense not to leave it at risk. They would like to introduce you to various insurance solutions provided by their preferred partner, AXA, which could help protect you from unexpected events such as fire, theft, or lawsuits. COVID-19 cleaning, sanitizing coverage.
Services: Physical assets, personal property against accidental loss, destruction, or damage, by an insured event, Work Injury Compensation, Public Liability |
| Pricing | Request a quotation: https://forms.hsbc.com.sg/en-sg/forms/contact-us/?WABFormEntryCommand=cmd_ini |
| Website | https://www.hsbc.com.sg/ |
| Address | 50, #01-03 Raffles Place, Singapore Land Tower, 048623 |
| Telephone | +65-1800-4722669 |
| Opening hours | 9.30 am to 5 pm |
| Review 1 | I would like to compliment an officer, Ms. Syarifah who patiently listened to my enquiry and assisted me promptly. I had a nice experience at this new HSBC outlet. |
| Review 2 | Despite all the negative reviews, I went to this branch to close my account, on a Friday at 2 pm. Well, I was nicely welcomed and waited less than 5 minutes before being assisted by Sarah at the counter, who was very nice, polite, and effective. Nothing negative to say about my experience there |
| Review 3 | Beautiful location. Amazing staff and customer service, not sure why the bad reviews. Please respect your fellow human beings there. 😉 |
General liability insurance insures from lawsuits addressing injuries or property wreckage are addressed to clients or independent contractors that are not your employed staff.
Business owner’s policy (BOP) insures from major risks or covers wreckage at your company premises.
Cyber liability insurance compensates financial losses upon the outbreak of any Data Leakage or cybersecurity lapse.
Commercial auto insurance ensures property wreckage or injury supposing one’s business automobile runs into any mishap, crash. This alternatively insures automobile theft or specific forms of wreckage.
Fidelity bonds could compensate one’s clients if any of one’s staff steals office property.
Workers’ Compensation Insurance insures one’s company from medical charges resulting from work-connected injuries, or lawsuits involving staff injury.
Commercial insurance: Functions, Uses, Claims
Basically, commercial insurance policies compensate for monetary losses incurred by one’s business.
In case one’s technology company undergoes an insured occurrence – Burglars break into office grounds, then steal multiple computers.
One files specific claims to one’s Commercial Insurance Provider.
Insurers examine each claim, evaluate overall damages, then next provide you with funding for procuring fresh computers, to replenish all glass panels that burglars damaged.
Alternative claims could prove to be more complex.
Each liability claim, to consider, regularly raises a lawsuit against one’s company.
Within these cases, any client, customer, and independent 3rd party bills that your operated business had directly caused led them to lose in revenue, providing grounds for filing damage claims to you.
If anyone sues your company for any event insured by your policy, your insurance provider could possibly hire the services of lawyers to assume responsibility for your legal defense.
The lawyer might either defend your case within courts or seek to settle amicably with the plaintiff.
The majority of overall damages accrued over by lawsuits get compensated over by insurance firms, capped by your policy limits, upon your payment of receivables.
These accrue from lawyer’s charges, court fees, or more settlement and judicial charges.
Commercial Insurance Policy Details
Any insurance policy emerges over with loads of paperwork or fine print, also commercial liability insurance follows such patterns.
Each policy one obtains might likely cover:
Premium: These are general bills each business submits for Insurance Coverage, or levied charges of each Policy.
Aspects inclusive of company format, the volume of staff, payroll, locale, period operating company, or risks may fully affect company premium charges.
Payment terms may be staggered over months, quarters, or years.
Deductible: One’s deductible refers to charges you need to submit for each claim prior to the insurance firm subsequently providing reimbursed funding.
To consider, if one holds some $10,000 deductibles or some lawsuit bills one’s company $50,000, one’s insurance could compensate $40,000.
Policy caps: These denote the maximum full sum of compensation that engaged insurance policies might fully reimburse.
Often, limits are placed over claims (per event cap), also every cap on the tenure of any policy (overall limit).
Most commercial liability policies hold a full cap of $1 million.
Business liability insurance: Extent of coverage needed usually
Liability insurance might insure you over risks, help one’s business with satisfying contract demands.
Below are methods for determining coverage limits one requires for one’s liability insurance.
Coverages or exceptions: General coverage sections within an insurance policy informs on content that policy could, need compensate over. Exceptions clarify what insurance fails to compensate for.
The conventional exception within each liability coverage, to consider, determines that insurance precludes paying incurred charges if one willfully causes harm to other parties.
Examine closely every fine detail within your policy to determine coverage or specific forms of commercial insurance that could fit one well.
Consult a professional insurance agent to clarify doubts, concerns, uncertainties.
Commercial Insurance demands technology companies
In many situations, a technology company gets just legally motivated to cover workers’ compensation for liability protection – only in case companies employ staff.
Still, any company might get contractually motivated to subscribe to specific insurance policies.
If one leases any building or office grounds, to consider, one’s landlord might likely direct you to buy general liability coverage.
Also, in case one connects with any major contractual customer, these might demand that one engages Errors and Omissions Insurance.
Extending to non-compulsory events, Insurance protection cover could provide the necessary insurance cover against accrued risks of operating any small-scale technology company.
MSIG Commercial Insurance Coverage Details, Singapore:
Commercial Insurance
Keep the pulse of your livelihood secure.
Whatever the size, every business is more intricate than it seems, and so are its needs. Our deep understanding of this is precisely how we can give your business just the right protection, every step of the way.
Property
From your premises to the machinery and assets within, leave nothing uncovered.
Safeguards your physical and financial assets under a wide cover, including accidental loss or damage to your business assets and inventory. Affordable cover for your building.
