Clema Risk Solutions Clema Risk Solutions
Get a Quote
  • Business Insurance
    • Business Interruption Insurance
    • Business Owner’s Policy
    • Cargo Insurance
    • Commercial General Liability Insurance
    • Credit Insurance
    • Cyber Insurance
    • Directors and Officers Liability Insurance
    • Employee Compensation Insurance
    • Medical Malpractice Insurance
    • Product Liability Insurance
    • Professional Indemnity Insurance
    • Property Damage
    • Public Liability Insurance
  • Employee Benefits
    • Accidental Death and Dismemberment Insurance
    • Critical Illness Insurance
    • International Health Insurance
    • Term Life Insurance
    • Travel Insurance
  • Industry Solutions
    • Asset Management and Funds Insurance
    • Online Seller’s Insurance
    • Schools and Educational Institutions’ Insurance
    • Veterinary Clinic Insurance
  • About Us
  • Resources
  • Contact Us
  • Cargo Insurance
Clema Risk Solutions Clema Risk Solutions
  • Business Insurance
    • Business Interruption Insurance
    • Business Owner’s Policy
    • Cargo Insurance
    • Commercial General Liability Insurance
    • Cyber Insurance
    • Directors and Officers Liability Insurance
    • Employee’s Compensation Insurance
    • Medical Malpractice Insurance
    • Product Liability Insurance
    • Professional Indemnity Insurance
    • Property Damage
    • Public Liability Insurance
  • Employee Benefits
    • Accidental Death and Dismemberment Insurance
    • Critical Illness Insurance
    • International Health Insurance
    • Term Life Insurance
    • Travel Insurance
  • Industry Solutions
    • Asset Management and Funds Insurance
    • Online Seller’s Insurance
    • Schools and Educational Institutions’ Insurance
    • Veterinary Clinic Insurance
  • About Us
  • Resources
  • Contact Us
  • Get a quote
Jan 26

5 pieces of advice for setting up a comprehensive business package insurance

The business package insurance will include, under one single contract, several types of insurance coverages such as property damage, business interruption (additional cost of working), money, personal accident, glass breakage, neon sign, public liability, fidelity guarantee, employees’ compensation, goods in transit, and machinery breakdown. Such an insurance package offers several advantages. As mentioned above, it offers a broad variety of basic coverages needed for small and medium-sized businesses in Singapore. Also, as all these coverages are with the same insurer, this solution is logically more economical than having different insurance policies with different insurers. Finally, because we are talking about one contract, this is very easy to handle and renew.

However, this insurance policy is made up of several coverages that are different in nature and scope, each having some specific exclusions or extensions, with specific limits and deductibles. All this makes it very challenging to read and understand.

Please find below, some simple advice to ensure that the business package insurance answers your business needs:

  1. Understand your needs in term of property and liability risks. For instance, if you think your company is sensitive to in-house crime because of the cash you may have or because of the goods you have stored, it may be worth choosing a business package that will offer you an extension to cover fidelity of employees.
  1. Make sure the sums insured for the building (in case you are the owner), the contents and the stocks are adequately declared to your insurer. In case of loss, this is the first thing the insurance expert will check. In case your company is underinsured, the insurance company will apply some proportional rules and your indemnity will be diminished accordingly.
  1. Make sure your public liability cover follows your needs. If you or your employees are travelling within a certain territory, it’s important to make sure that the territory covered by the insurance policy is in compliance with your activity and not limited to your premises.
  1. Inform your insurer about any material changes in your risk nature. For instance, if you have renovated your office or your shop, don’t forget to declare it to your insurance company.
  1. Understand what you are covered for. Your insurance intermediary will help you to understand your needs. He will walk you through the contract and draw your attention to certain caveats or exclusions.

To learn more about our business package insurance for SMEs, read the article published by our General Manager Laurent Charlier in collaboration with Stratys and check the video.

If you have any questions or need a quote, please don’t hesitate to send us an email with your contact details. You can also visit our website to find out about the other insurance services we offer.

  • Facebook
  • Twitter
  • Tumblr
  • Pinterest
  • Google+
  • LinkedIn
  • E-Mail

Comments are closed.

Recent posts

  • The 3 levels of liability insurance for technology companies
  • Can I insure my cryptocurrencies?
  • How do I calculate the value of my contents and stocks for my business insurance in Hong Kong?
  • Does your employees’ compensation insurance covers your company when your employees are working from home?
  • Do Startups need business insurance?

Categories

  • Business Insurance (42)
  • Business insurance package (3)
  • Business Interruption (3)
  • Business Owner's Policy (2)
  • Credit insurance (1)
  • Cyber Insurance (5)
  • Directors and Officers Liability Insurance (3)
  • Employee Benefits (6)
  • Employer's Liability (4)
  • Health Insurance (2)
  • Marine Cargo Insurance (1)
  • Online Sellers Insurance (2)
  • Product Liability (4)
  • Professional Indemnity (6)
  • Property damage Insurance (1)
  • Public Liability (5)
  • Service Insurance (2)
  • Term Life Insurance (2)
  • Travel Insurance (1)
  • Uncategorized (1)
  • Business Insurance
  • Employee Benefits
  • About Us
  • Resources
  • Manage your Policy
  • Contact Us
  • Privacy Policy

Subscribe to our newsletter

Offices

Singapore
883 North Bridge road,
#0604 Softbank,
Singapore 198785
T: +65.6493.2428
hello@clema-rs.com
www.clema-rs.com

Shanghai
Room 608, No.1900 Tian Shan Road, Changning District, Shanghai,China
T: +86.21.3251.5535
hello@clema-rs.com
www.clema-rs.cn

 

Hong Kong
99 Hennessy Road
Bayfield Building, Room 2301, 23F
Wanchai HK
T: +852.5508.8017
hello.hk@clema-rs.com
www.clema-rs.com.hk

France
4 Rue des Orphelines
77160 Provins,
France
hello@clema-rs.com

Linkedin
Made by Them You & Me
Thank you

Thank you for your interest in Clema Risk Solutions. We will respond to your inquiry in the next 24hrs.

What are you looking for?

Business Insurance OR  Employee benefits

Enter your details to proceed

 

Enter your details to proceed

 

 

Enter your details to proceed

 

You are a resident in:

Singapore

You need insurance for

An Individual OR  A Group