Insight
Work Injury Compensation Act 2019
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Since 1st January 2020, the Work Injury Compensation Act has gone through several updates and amendments. The key amendments aim to enhance the protection for both employees and employers:
- Enhancing Protection for Employees through the increase in compensation limits and coverage.
- Transparency of Data via a data portal for WIC insurer and the MOM to share policy and claims data to ensure accurate premium pricing.
- Expediting WICA Claims by improving the processing turnaround time upon notification to WIC insurer or MOM.
- More Certainty for Employers through the regulation of MOM approved WIC policies.
For more details, you may refer to the MOM website at https://www.mom.gov.sg/workplace-safety-and-health/work-injury-compensation/changes-to-wica-in-2020
All existing and new policies incepting 1 September 2020 must meet the new legislative amendments.
If you have any questions, please speak to your Howden servicing broker.