Covers your business against legal liability for third-party injury or property damage arising from your operations or premises. Typically required by landlords, NEA / LTA / URA licensing, and many tender contracts.
- Who needs it
- F&B operators, event organisers, contractors, gyms, retailers, clinics, schools, anyone the public visits or whose operations could damage third-party property.
- Typical premium range
- From S$300/yr for low-risk offices to S$5,000+/yr for high-footfall F&B and event venues.
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Covers legal liability arising from professional negligence, errors and omissions in advice or services. Required under MAS, Law Society, ISCA, BOA, PEB and SMC licence conditions for regulated professionals.
- Who needs it
- Financial advisers, lawyers, accountants, architects, engineers, doctors, consultants, IT services firms, marketing agencies.
- Typical premium range
- From S$800/yr for small consultancies to S$25,000+/yr for medium law and accounting firms.
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Protects the personal assets of company directors and officers against claims arising from decisions made in their corporate capacity. Often triggered by fundraising, IPO, VCC formation or family-office structuring.
- Who needs it
- Listed companies, VCC fund directors, family-office boards, startup boards with institutional investors, charities and IPCs with governance boards.
- Typical premium range
- From S$2,500/yr for early-stage startups to S$50,000+/yr for listed-company boards.
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Covers liability to employees for injury or illness arising from employment, beyond what WICA provides. Often bundled into a commercial package policy.
- Who needs it
- Employers with non-manual staff earning above the WICA statutory threshold, professional services firms.
- Typical premium range
- From S$200/yr as an add-on to a package policy.
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Covers first- and third-party losses from cyber incidents — ransomware, data breach, business interruption, PDPC fines, regulatory investigation costs. See cyberinsurance.com.sg for full clause-level comparison.
- Who needs it
- Any business handling personal data under PDPA, holding payment card data, or dependent on IT systems for revenue.
- Typical premium range
- From S$1,500/yr for small SMEs to S$50,000+/yr for larger data-rich businesses.
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Covers legal liability for third-party injury or property damage caused by defective products you manufacture, distribute, import or sell. Critical for manufacturers, importers and exporters — especially those reaching the US, Canada, EU or Australia markets.
- Who needs it
- Manufacturers, importers, distributors, F&B operators, electronics and electrical-goods sellers, pharmaceutical and medical-device companies, cosmetics suppliers, online sellers and private-label brands.
- Typical premium range
- From S$800/yr for domestic-only distribution to S$25,000+/yr for US-bound consumer-product manufacturers.
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Professional indemnity for medical and dental practitioners covering negligence in clinical care. Required by SMC, SDC, MOH licence conditions. Underwritten by SMA Indemnity (mutual for SMA members), Beazley, Markel, Newline and Lloyd’s syndicates.
- Who needs it
- Registered medical practitioners, dentists, allied health professionals, clinics, hospitals.
- Typical premium range
- From S$2,000/yr for low-risk GPs to S$50,000+/yr for high-risk specialties (obstetrics, neurosurgery, cosmetic surgery).
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Covers loss from employee dishonesty, third-party fraud, computer-systems fraud, funds-transfer fraud, social engineering. Critical for fintech, payment service providers, family offices and financial institutions.
- Who needs it
- Banks, MAS-licensed PSPs, fintech firms, family offices, charities, any business holding client funds or moving money.
- Typical premium range
- From S$3,000/yr for SMEs to S$50,000+/yr for licensed PSPs.
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Specialised professional indemnity for technology, SaaS, IT consultancies and digital agencies covering errors in software, integration failures, data loss. Often combined with cyber liability.
- Who needs it
- IT consultancies, SaaS providers, digital agencies, technology integrators, cloud service providers.
- Typical premium range
- From S$1,500/yr for small dev shops to S$25,000+/yr for established SaaS players.
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Professional indemnity cover written for MAS-licensed fund management companies. MAS may impose PII as a licence condition on Retail LFMCs under SFA 04-G05, on a minimum-coverage ladder set by assets under management; A/I LFMCs are strongly encouraged to hold it and must disclose whether they do.
- Who needs it
- Retail LFMCs, A/I LFMCs, VCC fund managers, former RFMCs transitioned after the regime was repealed on 1 August 2024, and single- and multi-family offices that carry out regulated fund management.
- Typical premium range
- Quoted against the AUM tier, strategy and claims history. Singapore-specific premium benchmarks are not publicly published — request a quote.
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