Work Injury Compensation Act – Key Amendments
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.
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