g&m gets featured in Skillsfuture SG and Workforce Singapore newsletter

g&m was recently featured in a Skillsfuture and Workforce Singapore newsletter highlighting office culture, as part of their SME Go Digital initiative.

We’re proud to say we’ve worked hard and come a long way from our one-man cubicles 35 years ago. To be recognised by Skillsfuture and Workforce is no small feat, and we are humbled by it.
Here’s to another 35 years of hard work and keeping employee growth a priority!

Check out the newsletter portion below!

Last Minute Road Tax Renewal: What to Do?

Your Road Tax is due for renewal. You make calls to renew your car insurance so as to avoid the late Road Tax fine by LTA.

First, let’s revisit the prerequisites for Road Tax renewal.

1. Vehicle inspection: Your vehicle will first need to pass an inspection.  You will receive an inspection notice when it is due. For passenger cars, this occurs on the 3^rd year of registration, and every 2 years thereafter.
2. Motor insurance: Your vehicle will need to have valid insurance for the full period of the new road tax.

Say you’ve inspected your vehicle and contacted your insurer to renew your insurance. However, you are still being notified that you have insufficient insurance coverage. What went wrong?

What does that mean for you?

A Mazda 3(1.5) owner could potentially save as much as S0**, while including a STGM_PAGESPEED_LAZY_ITEMS_INORED_BLOCK_22_23 Excess option.

That means greater savings and a better deal for your Mazda Insurance.

Having accessibility to such great deals, coupled with a weighted comparison across a wide range of insurers is what makes an insurance broker unique. As professionals in the industry who are not affiliated with an insurer, g&m provides you with unbiased advice. Simply provide your Mazda’s details and leave the deal hunting to the experts.

Your Warranty is Guaranteed.

If you’ve got your Mazda insurance from your car dealer, you may be under the impression that you would need to repair your car at the car dealer’s workshop to keep your warranty.

According to the Competition Commission of Singapore (CCS) you can still keep your #warranty if you repair your car at independent workshops.

Is your motor insurance due for renewal?
Are you paying more than you need to?
Find out if you are by consulting with us for free.

To get an accurate quotation, please try to provide the full details of your motor insurance needs. Thank you.

For companies that require corporate travel insurance plans for employees who will be travelling for work, there are 3 insurers providing COVID-19 extensions for their corporate cover.

Here’s a summary of the COVID-19 extensions:

The above is a list of the current available plans with COVID-19 extensions. With more insurers currently in the midst of reviewing their COVID-19 extensions for Corporate Travel, do keep a lookout for our updates on this page.

As the coverage for each corporate travel plan differs, do contact us for more information and we will assist to provide a suitable solution for you.

With the gradual easing of international travel restrictions, Singapore residents are now able to travel out for business trips or festive getaways. At the same time, travellers are expressing caution – what if they contract COVID-19 overseas? Will their travel insurance cover COVID-19? What if they need immediate medical treatment while overseas?

We’d like to help!

Yes, you can! There are the 3 insurance companies offering COVID-19 extensions under their travel insurance plans.

As the travel bubble is slowly expanding, more insurers may start to extend COVID-19 coverage to travellers. We will continue to update the list once we receive further updates from our insurer partners.

Click here to read about COVID-19 coverage for Business Travel.

Employee Benefits enhance a firm’s ability to stay competitive on compensation packages offered to prospective employees, and come mainly in 2 forms: Packaged Plans and Customised Plans. Often, many HRs or directors in companies are unsure about which to pick to suit the best interest of their employees, especially when they are new set-ups.

When purchasing a car, do you feel pressurised to take up insurance through your car dealer? Our advice to you is to always try to source for alternative quotations online, or get an insurance broker to do the comparison for you – a broker’s duty is to understand your needs and to recommend the most suitable plans for you.

Some car dealers might impose a penalty fee (0) for not purchasing your insurance through them. But you might be surprised to learn that the cost savings from purchasing your insurance elsewhere could potentially exceed 0.

When your car insurance is due for a renewal, you’ll also benefit from shopping around for various quotes to compare. If you find a cheaper deal elsewhere, try asking for a price match from your existing insurer.

Due to the competitive market, there are now many reputable workshops in Singapore where you can repair cars at affordable rates.

In 2017, the Competition Commission of Singapore (CCS) worked with major car dealers to remove warranty restrictions from car warranties. What this means is that consumers are now able to repair their cars at outside workshops without fear of their manufacturer’s warranty being void.

The key benefit of repairing your car at outside workshops: cheaper repair costs (as compared to authorised-dealer workshops) would lead to lower insurance claims amount for repairs, ultimately resulting in a smaller increase in your renewal premium for the following year.

An additional tip from us: When purchasing your car insurance (online or through a broker), opting for an Insurer-Authorised Workshop plan allows you to keep your insurance cost even lower!

To reward safe drivers, the Traffic Police in Singapore issues a Certificate Of Merit (COM) to drivers in Singapore who have managed to maintain a 3 year streak without demerit points.

With the COM, you will be eligible for safe driver discounts of up to 10% from most insurance companies. So be sure to drive safely and check your eligibility on the Traffic Police E-services website.

For those fortunate enough to have more than one vehicle within your household in Singapore, it would be worth checking with your insurer or broker if bulk discounts are available if you insure all your vehicles with them.

Although a fully comprehensive policy sounds good, the truth is that you might not need all the bells and whistles in an insurance policy. Some of these come at an extra cost that you could actually save on.

We’d advise you to read through your policy coverage thoroughly and remove any add-ons that you do not require. NCD Protector? Courtesy Car? Excess Waiver?

If you’re unsure about the types of coverage you need, get a broker to help you access your needs.

As an employer in Singapore, some mandatory employee insurance is required by the Ministry of Manpower (MOM), such as work injury compensation (WIC) insurance.  

Under the Work Injury Compensation Act (WICA), employees can file a claim if they were injured in a work accident or suffered a disease due to work. Here’s what you need to know.

As a business owner, you are mandated to purchase WIC Insurance for certain employees. From 1st April 2021 onwards, all non-manual employees earning up to ,600 per month would require WIC insurance.

Next, the payout limits for Death, Total Permanent Incapacity, and Medical Expenses have also increased.

Also, employees on light duties due to work injuries will now also be compensated for their income loss based on their Average Monthly Earnings.

Will there be Overlaps if I purchase both WICA and FWMI?

While there are situations whereby both WICA and FWMI can cover, they are not substitutes for each other and having one doesn’t exempt you from needing the other. Each of them caters to different needs.

Unsure whether you fulfill MOM requirements for your employees?

Get advice on Mandatory Employee Insurance from our friendly experts today.

Covers pre-existing medical conditions of your workers. This is included in most plans upon inception. However, some insurers require a 12-month waiting period for pre-existing conditions, for their basic plans.

Work-related medical treatments – Covers work-related medical treatments carried out in Singapore and Overseas, when employees travel for work assignments. Usually included in most plans.

Non-work-related medical treatments – Most insurers cover non-work-related medical treatments only if they are carried out in Singapore. However, if you require, some can provide coverage for non-work-related overseas medical treatments in cases of emergencies.

While outpatient treatments are usually excluded from the coverage of Foreign Worker Medical Insurance plans, it is possible to secure coverage for outpatient cancer and kidney treatments, as some insurers do make this available.

Most policies only cover treatment that is performed in the hospital. However, some plans can cover both inpatient and outpatient treatments, usually with higher premiums and requiring some form of Co-Payment.

MOM has set a requirement for the claimable limit to be at least ,000 per policy year. However, more superior limits can also be obtained depending on your needs.

When an unfortunate loss of life happens for your foreign worker due to illness or an accident, insurers can cover for repatriation of their remains back to their home country.

Depending on the needs of your company, you could be looking for cost-effective plans, higher claim limits or more overseas coverage.

We understand that each company is unique. As an insurance broker, we provide unbiased advice based on your needs.

With access to 20 over insurers, we can help source for the most suitable plans for your Foreign Workers.