PGI Liability Insurance

Question 1

What is 'public liability' insurance commonly needed by businesses in Singapore?

Accepted Answer

Insurance covering a business's legal liability for bodily injury or property damage to third parties caused by the business's operations or premises

Answer

Insurance for public relations

Answer

Insurance for government buildings

Answer

Insurance for publicity events

Question 2

What is Work Injury Compensation Act (WICA) insurance in Singapore?

Accepted Answer

Compulsory insurance for employers covering employees against work-related injuries and occupational diseases regardless of fault

Answer

Voluntary employee wellness programme

Answer

Insurance for freelancers only

Answer

Health insurance for retirees

Question 3

What is 'professional indemnity' (PI) insurance and who needs it in Singapore?

Accepted Answer

Insurance for professionals (lawyers, doctors, accountants, architects) protecting against claims of negligence or errors in their professional services

Answer

Insurance for professional athletes

Answer

Insurance for job loss

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Insurance for professional equipment

Question 4

What is 'product liability' insurance and why is it important in Singapore?

Accepted Answer

Insurance covering manufacturers, distributors, and retailers against claims that their products caused injury or damage to consumers

Answer

Insurance for product marketing

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Insurance for product warranties

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Insurance for product recalls only

Question 5

What is 'directors and officers' (D&O) liability insurance?

Accepted Answer

Insurance protecting company directors and officers against personal liability for decisions made in their corporate capacity that result in legal action

Answer

Insurance for company directors' personal vehicles

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Insurance for office equipment

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Insurance for director salaries

Question 6

What is 'employer's liability' beyond WICA in Singapore?

Accepted Answer

Additional insurance covering the employer against common law claims from employees for work-related injuries where negligence is proven, beyond WICA statutory limits

Answer

The same as WICA

Answer

Insurance for hiring processes

Answer

Insurance for salary disputes