Product Description

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

Key features

  • All Risks cover up to $5m
  • High Public Liability cover up to $5m including treatment risks for beauty salons and hairdressers
  • Up to $1m Terrorism Cover under personal accident cover
  • 10% No Claims Discount on renewal
  • 10% multi-location discount for 5th outlet onwards

Basic Plan

All Risks
We protect your assets against accidental damage, fire and theft, including loss of rent payable and inland transit cover up to $5,000. Plus, we will automatically increase the sum insured on Stock in Trade by 20% for two weeks prior to a festive period.

Business Interruption
Our plan covers the additional increased cost of working up to 100 days and cost of recompiling records due to Insured Perils under Section 1 and electronic equipment interruption.

We cover the loss of money on the premises and whilst in transit anywhere in Singapore including $5,000 Personal Accident benefits following robbery or hold up.

Work Injury Compensation
We cover your legal obligation to your employees for death or bodily injury arising out of or during employment.

Public Liability
We cover your legal liability to third parties concerning your business operations in Singapore, including food and drink poisoning at the premises and treatment risks for hairdressers and beauty salons.

Personal Accident
We compensate your insured employees for accidental death or injury, including up to $1,000 in medical expenses and up to $1 million in terrorism cover (excluding biological, chemical agents or nuclear devices).

Optional plan

Fidelity Guarantee
We protect your business against direct financial losses incurred due to fraudulent or dishonest acts committed by any insured employee.

Deterioration of Stocks
We insure your business against deterioration and damage to refrigerated or frozen stock due to accidental failure of your cold chambers and refrigeration units.

Goods in Transits
We make it up to you when your stocks are damaged in transit, loading and unloading within Singapore.

Fire & Extraneous Perils for Building
Enjoy 50% discount on All Risks rate if you opt for Fire & Extraneous Perils to insure your building against damage by fire, lightning, domestic explosion and other insured perils.


Plan details

Basic Cover
COVERAGE Sum Insured
Basic Plan Maximum

All contents and renovation including fixtures, fittings and property for which the Insured is legally responsible (Excluding Building)

  • -  Excess: $1,000 each & every loss in respect of flood and water damage
  • -  Excess: $150 each & every loss for all other claims
$100,000.00 $2,000,000.00

ii. Building (optional)

- $5,000,000.00

i. Additional increased cost of working

$250 per day $750 per day

ii. Cost of recompiling records

$1,500.00 $2,000.00

i. Money (in premises or in transit)

$5,000.00 $30,000.00

ii. Money in locked drawers/cabinets/cash registers after business hours

$5,000.00 $5,000.00

iii. Money in proprietor’s/partner’s/director’s residence kept in locked drawers/safes overnight

$5,000.00 $5,000.00

i. Non-manual (example: admin staff/manager/director/others)

Up to 5 employees No. of employees: 20

ii. Manual (example: outdoor/kitchen staff/others)


i. Any one occurrence

$1,000,000.00 $5,000,000.00

ii. Any one period

Unlimited Unlimited

i. Death/Total permanent disablement
(Overall compensation limit: $5,000,000)

1 employee No. of employees: 20
$50,000 per employee $500,000 per employee

ii. Medical expenses

$1,000.00 $1,000.00
Optional Cover
COVERAGE Sum Insured
Basic Plan Maximum

Any one employee and in aggregate

- $20,000.00

Service & Retail/F&B/Light industry (Excess: $100 each & every claim; Time excess: 12 Hours)

- $25,000.00

Any one conveyance/location (Excess: $150 each & every loss)

- $50,000.00


- $5,000,000.00
No. Questions & Answers

What is the earliest effective date?

The online submission/application must be at least three days before the effective date (T+3).As we need to transmit Work Injury Compensation information to Ministry Of Manpower before policy inception

Example (T+3 days):

  • T           = 01/06/2023:Online issuance
  • 3 Days = 04/06/2023:Effective date

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 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 MSIG or visit GIA/LIA or SDIC.


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