Product Description

A comprehensive and flexible package for small and medium-sized businesses. Suitable for Office, Service, Retail and Food & Beverage businesses.

Key features

  • 5% discount on Auto Renewal granted
  • Comprehensive All Risks up to $5 million
  • Covers treatment risk for beauty salons and hairdressers under Public Liability 
  • Personal Accident - terrorism cover of up to $1 million

Basic Plan

Protect your assets

ALL Risks

Covers accidental damage, Fire and Theft of your assets including:

  • Auto increase for Sum Insured on Stock in Trade by 20% for 2 weeks prior to Festive Period.
  • Loss of rent payable.
  • Plate Glass.
  • Inland Transit covers up to $5,000.
  • Building (Optional).



Covers loss of Money on the premises and whilst in transit anywhere in Singapore including:

  • After business hours in a locked safe or drawer.
  • Kept overnight in Proprietor’s, Partner’s or Director’s residence in locked safe or drawer up to $5,000.
  • $5,000 Personal Accident benefits following a robbery or hold up.


Protect your operations

Business Interruption


  • Additional increased cost of working up to 100 days.
  • Recompiling records.
  • Increased cost of work as a result of electronic equipment interruption.


Public Liability

Cover your legal liability to Third Parties in connection with your business operation in Singapore including:

  • Food and drink poisoning at premises.
  • Treatment Risks for hairdressers and beauty salons.


Protect your employees

Work Injury Compensation

Covers your legal liability for death and bodily injury to employees under the Work Injury Compensation Act or at Common Law (Common Law Limit: $10 million for any one claim or series arising out of one event.).

  • On a Headcount basis (Headcount and Annual Earnings to be declared).


Personal Accident

Covers compensation for accidental death or injury to Insured employees.

  • Death / Permanent Total Disablement.
  • Medical Expenses up to $1,000.
  • Terrorism (Excluding Biological, Chemical Agent or Nuclear Device).
  • 50% of benefits cover (including Medical Expenses up to $500) for those aged 71 to 75 subject to satisfactory health declaration.
  • Covers up to 20 employees.


Optional plan

Deterioration of Stocks
Covers deterioration of refrigerated or frozen stock due to accidental failure of your cold chambers or refrigeration units.

Goods in Transits
Covers damage to stocks whilst in transit, loading and unloading within Singapore.

Fire & Extraneous Perils for Building
50% discount on All Risks rate if you opted to insure a building on Fire & Extraneous Perils instead of All Risks. The unit structure for this cover will be restricted to Fire and Extraneous Perils only.

Fidelity Guarantee
Covers direct pecuniary losses sustained by acts of fraud or dishonesty committed by any insured employee.


Plan details

Cover Basic Plan Limit

1. All Risks

i. Personal property including property under care and custody and loss of rent payable
(Excluding Building) Excess: $150 Each & Every Loss
ii. Building (Optional) -

2. Business Interruption

i. Additional Increase Cost of working $250 per day
ii. Cost of recompiling records $1,500

3. Money

i. Money (In Premises or In Transit) $5,000
ii. Money in locked drawers/cabinets/cash registers after business hours $5,000
iii. Money in proprietor’s/partner’s/director’s residence kept in locked drawers/safes overnight $5,000

4. Work Injury Compensation

i. Admin Staff Headcount
Up to 5 Admin Staff (Please declare headcount and Annual Earnings at “Total Sum Insured” column)
ii. Outdoor/ Manual/ Kitchen/ Others

5. Public Liability

i. Any One Occurrence $1,000,000
ii. Any One Period Unlimited

6. Personal Accident

i. Death/Total Permanent Disablement
(Overall Compensation Limit: $5,000,000)
1 employee
$50,000 per employee
ii. Medical $1,000
No. Questions & Answers

When can I incept the plan? 

As we need to transmit Work Injury Compensation information to the Ministry Of Manpower before policy inception, the effective date of the plan must be at least 10 working days upon our acceptance of the Proposal.


How do I enjoy a 5% discount on Auto-Renewal? 

i) You will enjoy a 5% discount if you have opted Auto-Renewal for the second year and met these criteria:

  1. No material change in your operation, activities or exposures.
  2. No new or amended Singapore legislation or law that may have a material effect on the exposures and/or coverage that are covered and/or granted under this Policy.
  3. First year incurred loss ratio not exceeding 60% Incurred losses shall mean the sum of the following:
    1. all losses
    2. reserves for unpaid losses as estimated by the Company
    3. expenses incurred for loss adjustments
    First year Incurred loss ratio =
    First year Incurred loss ratio Premium (First Year)
  4. No change in MSIG’s reinsurance programme.

ii) If you have met criteria (a) and (b) above and did not make any claim in the first year, you will enjoy a 5% auto-renewal discount and another 10% No Claims Discount on your premium for the second year.


What is “personal property”?

Personal property is a property that is used in business and not permanently affixed to land - for example, equipment, furniture, tools and computers.


What happens if the insured sum for the property is inadequate?

If any property insured shall at the time of the occurrence be collectively of greater value than the sum insured, the amount payable by the Company in respect of the loss or damage shall be proportionately reduced.
See illustration below:
Sum Insured S$100,000
Current Value S$125,000
Loss amount S$ 90,000

SUMO pays S$100,000 S$125,000
X S$90,000 = S$72,000

How does Automatic Increase for Sum Insured on Stock-In-Trade apply? 

The Sum Insured for stock-in-trade declared in the proposal shall automatically increase by 20% for fourteen (14) days immediately prior to Chinese New Year, Hari Raya Puasa, Deepavali and Christmas Day.


Why do we need to declare Annual Earnings since the cover is on a headcount basis under Work Injury Compensation Section? 

The Ministry of Manpower requires all headcount and annual earnings to be transmitted to their portal before policy inception.  If the Estimated Annual Earnings declared by the Insured are less than Actual Annual Earnings, the Insured will be deemed to be his own insurer to the extent of the shortfall in the amount declared and bear a rateable proportion of the liability accordingly. 


What is the difference between Money Section - Personal Accident Benefits extension and the Personal Accident Section? 

Money Section – Personal Accident Benefit extension covers up to two (2) employees who sustain bodily injury caused by armed robbery, hold-up or any attempt threat whilst carrying money to and from the bank and Insured premises and vice versa.  Compensation is in accordance with the Extension’s Table of Benefits up to a maximum sum insured of $5,000 per employee and this is in addition to the compensation that is payable under the Personal Accident Section. 

Personal Accident Section covers Insured Person named in this Section, who sustain bodily injury caused by accidental violent external and visible means.  Compensation is in accordance with the Section’s Table of Benefits. 


What is an Overall Compensation Limit in Personal Accident Section?

Overall Compensation Limit refers to the total limit for all Insured persons travelling in one aircraft or surface transport vehicle or vessel which is limited to $5,000,000. If the total amount of all claims for Insured persons exceeds $5,000,000, we will pay each person a rateable proportion of the benefits due for that person. However, if it is due to Terrorism, the total limit payable shall be $1,000,000 per period of insurance.


Can we insure pre-war premises? 

Yes, we can cover pre-war buildings that had been fully restored.


Can we insure multi-tenanted, shared premises? 

Yes, individual tenant/business owner (an entity) can buy this package for their business even if the premises are shared.


Can we insure property kept in the open/without perimeter, fence, and security?

Yes, we can cover such property provided you have taken all reasonable precautions for the safety of the property including protection against weather conditions and theft.


Can we insure our unit where the second level is for residential use?

Yes, we can cover your business operation at the first level as well as the second level within the same unit, please ensure the sum insured is adequately covered for both levels.


Can we insure Risks outside Singapore? 

The plan is for risks located in Singapore only. 


We are unsure whether our business is an excluded trade? 

Please approach us should you need clarification 

Important Notice and Disclaimers

This page is for general information only. Full details of the terms, conditions and exclusions of this insurance are provided in the policy and will be sent to you upon acceptance of your application by MSIG Insurance (Singapore) Pte. Ltd. 

This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage of your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us here or visit GIA or SDIC.

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