Author: Thomas Hamilton

What should I know before deciding on full-day childcare

What should I know before deciding on full-day childcare?


There are certainly a lot of options for childcare available now. You can choose programs that are full-day or half-day. The Singapore Government has helped subsidized childcare through the Early Childhood Development Agency (ECDA). Parents can now take advantage of subsidies for their child’s early childhood education. The subsidies are often funneled through childcare centers. For you to make the right choice, it is important to get a comprehensive view of why governments have started funding childcare, what costs for childcare you should expect in Singapore, and what program would work best for your child. Different governments all over the world have seen the value of investing into childcare programs.

If you are looking for a preschool in Singapore, look no further. Boasting of a renowned curriculum and being the only preschool to be endorsed by Habits of Mind, Mulberry Learning Centre is the best choice for your child if you want them to have every headstart in life. Hesitate no more and check out their site here!

Kelly Pedro for writes about how the province of Ontario subsidized full-day childcare.


Governments have invested in full-day childcare


When Ontario gambled on full-day kindergarten in 2010, critics called it costly babysitting the deficit-plagued province couldn’t afford. Advocates – and many parents, freed of daycare costs – cheered. Read more here!


Educational psychologists and linguists have determined that the first three years of a child’s life affect them profoundly. Governments have responded to these findings by including childcare in their budget. Ontario, for example, has spent billions in subsidizing childcare. There are a lot of critics of the Ontario plan, especially from those who think it can put the government into crippling debt. Advocates see it as an investment especially for disadvantaged children. Return of investment for every dollar spent is at $1.5 to $3 and it doubles for the disadvantaged ones. Cognitively and emotionally, children who go through childcare do well in their early years and later in life. The key difference here is how these childcare programs are implemented. Strategies laid out for the program must encompass all aspects of childcare from the facilities up to teachers. It should take into consideration the parent, the children, and everyone else involved. How will this work in a nation like Singapore? An article in Straits Times written by Priscilla Goy provides a snapshot of the childcare industry in Singapore.


Singapore has ECDA to govern childcare centers


Both types of operators get government grants, but have to cap fees – at $720 a month for full-day childcare at AOP centres, and $800 for similar programmes at POP centres. Lower fees do not mean lower quality. Read more here!


The Singapore government has a lot of programs to support childcare. ECDA’s mission is to make sure all children grow up in a positive environment. They oversee everything that pertains to childhood education like licensing of childcare centers, subsidies, professional development of childcare providers, etc. The agency is also a good resource when choosing a childcare center because they have licensing information of the centers. The government has recently set aside a $5 million fund for childcare for the sole purpose of fulfilling ECDA’s mission. With the government subsidizing childcare, you will have a lot more options and centers to choose from. When you check a center, you will see different programs like full-day or half-day. The team in writes about the differences among the different programs and what you should consider when making a choice.


The best childcare program is the one that meets your child’s needs


Look through the class timetable, and understand what the children will be doing in school. Most childcare centres provide the core programme during the morning session. The afternoon session is usually occupied with routine care, such as shower, lunch, and naptime. Read more here!


Full-day childcare programs put core curriculums in the morning and routine care or some developmental activities in the afternoon. It is great for parents who are both working and no other caregiver is available for the child. Half-day programs may benefit younger children who may become apprehensive when away from home. Childcare fees are important to consider too. Most full-day childcare fees only slightly differ from half-day fees. If you are qualified for an ECDA subsidy, ECDA will directly give it to the childcare center and you will only need to pay the remaining amount. Full-day programs have more activities embedded in them but half-day programs may work too especially for younger kids. Everything depends on the needs of your child.


To conclude, governments stepping in to shoulder some of the costs for childcare may temporarily increase the deficit but if a well-built childcare plan is in place, the government will see returns for their investment. Singapore has ECDA to oversee all aspects of childcare, from licenses to teacher’s professional development. Overall, the country has a robust childcare plan that parents should take advantage of. There is definitely a lot of advantages if parents enroll their children to early childcare. Whether a child is enrolled on a full-day or half-day program, it all depends on their needs.

What Are The Hallmarks Of A Good School

What Are The Hallmarks Of A Good School?

With the world getting increasingly competitive, parents are greatly concerned about, how their kids are going to deal with it. It is for this reason, that parents leave no stone unturned when it comes to giving their children a good start to their academic life. Realising the apprehension of today�s parents, most modern schools try to give their students the best well rounded education that they can. This sophistication of educational amenities starts right from the level of nurseries itself, as vouched by increasing number of parents looking for an excellent nursery in Singapore. Today�s parents ask many kinds of questions when it comes to choosing a school for their wards. According to the experts, the measure of excellence of a school is not determined by the scale of its budget or the number of unique amenities that it offers. This article is going to shed light on those factors which the experts believe that they truly matter, when it comes to determining the excellence of a school. These factors can also be used to choose a Nursery School Singapore apart from the primary and high schools.

Presence of effective mentoring programs
While each school may implement the mentoring policy in different ways, the important thing is whether they have a mentoring program or not. Today�s students often encounter many challenges in their academic and personal lives. Hence, having a mentor is no longer optional. While having permanent mentors for every student is recommended, it is not a rigid requirement. As long as the students have someone to turn to, during the stressful times in their lives, it is okay. This will strengthen student�s ability to handle stress and sense of morality. Thereby mentoring programs go a long way in making them better citizens of the country.

Transparency in administration and communications
It is important for schools to have measures in place to prevent uncontrolled spreading of rumours. Rumours can be quite dangerous at times, both to students and the school itself. This is where; having a transparent administrative and communications policy comes in handy. As long as schools are open with their statements, parents and students will not have anything to worry about.

Student oriented measures and guidelines
A school commands respect in the society through the actions and achievements of its students. Hence, the values which a school embodies become very important both for the parents and students alike. This is why; experts recommend schools to design their measures and guidelines ,such that they are beneficial to the students more than anything else. When schools show that they value their students, the students will feel empowered and grow up to become responsible citizens.

In conclusion, the popular saying “every school is a good school” in SIngapore might not be exactly true depending on the definition of ‘good’. Hence, you should keep a lookout for the important factors that will help your child be confident, smart, and hardworking to take on the future world.

3 Factors to Consider When Looking for a Child Care Facility in Singapore

Choosing a childcare facility can be tedious for most parents. This exercise can be a major headache especially for the parent who has no prior information on what to look out for when they visit a facility. A daycare facility is a child’s first interaction with the world outside the safety of his/ her home. These interactions mould a child’s view of the world. It is a make or break moment and parents are to employ due diligence when looking for a facility.

One childcare that meets these preferences is Chiltern House preschool. They nurture your child’s confidence and independence, and also structure their programme to ready your child for primary school. Hence if you are serious about your child’s education, you should consider Chiltern House. You can view their site here:

Here are three factors to remember when choosing a facility in Singapore.

  1. Check for Safety

Young Parents SG writes:

Fiona says to find out how the school ensures its overall safety. For instance, is someone stationed by the centre’s entrance at all times? Is the front door secured during school hours? Is there a CCTV in the classrooms? And how does the school guarantee the safety of the kids during pickup and drop-off times, and during outings?
Read more here. It elaborates some 12 questions that every parent must ask from the management of a childcare facility.

A childcare facility should be a safe place. Safety from the outside world and safety within its premises. Do not settle on what institutions post online about their facilities. Make a visit to the place. Start your observations the moment you enter the gates. Find out if the school has safety and health guidelines. Ensure that the facility is clean and that their food handling is of a high standard.

There should be a policy of dealing with bullies and disciplining children. This will ensure that your child is safe from the physical and emotional torture caused by bullying.

  1. Accreditation

Accreditation is everything. It ascertains the legality of an institution and assures you that the facility operates within the confines of the law. Legislation in Singapore requires that the Ministry of Social and Family Development license all childcare centres. Licensing ensures that every facility meets basic minimum standards before opening its doors to children. It spells out clearly the qualifications that teachers should possess prior to working with children.

The license is displayed at an accessible place for every visitor to see. The ministry conducts inspections of the facilities every two years to ensure compliance.

The New Age Parent writes:

“The Singapore Pre-school Accreditation Framework (SPARK) is a quality assurance framework introduced by the Ministry of Education to raise the quality of pre-schools in Singapore and was implemented since January 2011. After 3 years, centres will have to be screened and checked again to renew their certification. The framework supports pre-school leaders in their efforts to enhance their teaching, learning, administration and management processes. It provides pre-schools with a blueprint for planning and carrying out both immediate and long-range improvements.” Read more here.

A good institution should have such accreditations. These are guarantees that the facility will indeed add value to your child. Do not settle for less.

An accredited institution is mostly covered by an insurance firm. It is easier to seek legal action against them in the event of a misfortune.

  1. How Well Established is the Facility?

A good facility should have systems that work. Their timings ought to be constant to ensure that you or your spouse are not inconvenienced during drop or pick up hours. You do not want a facility that promises to open at 7 am only to open at 8 am. Or one that calls you at 5 pm requesting that you pick up your child since he/she is the only one left at the facility.

A well-established facility has programs that help your child develop socially, physically and mentally.  Institutions that observe holistic approaches to their practices are preferable. The Montessori, Regio- Emilia, and Waldorf approaches have been tested and proven over the years. You will need to pay more for such though.

At Chiltern House Mountbatten, you can find such facilities readily available for your child, and you can read more about how they benefit your child above.

Wangkh also writes about outdoor trips that will be memorable for your child:

It is also good to understand how frequent the child care centre will organise excursions for the children. A field trip will always be more memorable to a child than their days in the child care centre itself. As a norm, Learning Vision organise at least one excursion per term. The places they brought the children to were also quite interesting. My youngest son went on a historical tour of Singapore and even got to ride in a trishaw.” Read more here.

In conclusion, your parental obligations go beyond feeding and clothing your children. You make decisions that can influence their future either positively or negatively. Take time to conduct research on the childcare facilities available in your locality. Make an informed decision.

Tips for childcare service entrepreneurs

Starting a childcare service requires a lot of responsibility. Being an entrepreneur and starting a business that requires you to responsible for a child for a certain period of time, in which, you are completely accountable for the safety of the child, means you should have your plans in place. The following pointers will help in putting your strategy in place.

Location of the childcare centre

The misconception that makes entrepreneurs make is establishing a childcare centre in locations near the housing communities. Most working parents prefer a childcare centre, which is nearby their office, as they can reach their children quickly during an emergency. Therefore, it is best that you find a nice spot in the thick of the concrete jungles. Your centre will take off well as parents have the assurance, proximity and accessibility to their child. You could also encourage parents to spend their lunch hours with their child, if possible.

Do not be over ambitious

When you start your services, do not take the responsibility of more than five children. For the first three months, focus on streamlining the operations and concentrating on childcare. Even if you have staff hired for more than five children, do not get over-ambitious. In these months, you can work on setting up your packages, processing and changing the daily activities for the child and ensuring that the all the necessary amenities are in place. It could be simple things such as extra baby mats or stocking up more on the cushions for children. Just take baby steps to ensure that you eventually earn a good reputation.

Hire the right staff

When you are hiring the staff for the childcare centre, remember, that each person should fill the most important criteria – love for children. If any one member of the staff does the job as means to earn money, then it will defeat the purpose of hiring them. Apart from moneymaking, children of tender ages need love and affection. If they are treated like a daily chore that starts at 9 am and ends at 8 pm, then they should not be part of your crew.
Another factor checks their background and look for any sexual harassment cases and criminal charges. If they have any criminal record or have a bad reputation, then you cannot take the risk of hiring them. It could result in your childcare centre shutting down because of some untoward incident occurring under your watch at the centre.
While hiring, keep in mind that you need educators, caretakers and medical staff in the centre. Ensure that they have the necessary certification respectively, so that the child’s safety is never under question.

Activities for the children

Running a childcare centre does not only mean that you are responsible for keeping the child until his parent comes to pick him up; it also means shaping the child’s cognitive, physical and emotional development. If you have creative games or playing things for the children that enable them to learn, then you are contributing in influencing the child’s future. If you spot any learning deficiencies in the child, you are giving him a chance to correct it before he heads to school. These factors also need to be kept in mind, while deciding on the list of activities for the children.

Decide on the age group

Having a three-month toddler to children up to the age of five or taking care of children from the age of three to the age of five – the decision should be made as soon as you decided on opening a childcare centre. It would be advisable to take the second option, especially, if you are still new to the concept of entrepreneurship and if it is your first business.


Kindеrgаrtеn whiсh litеrаllу means “gаrdеn for thе children”, is a Singapore preschool educational approach trаditiоnаllу bаѕеd on рlауing, ѕinging, рrасtiсаl асtivitiеѕ such аѕ drawing, аnd ѕосiаl intеrасtiоn as part оf thе trаnѕitiоn frоm hоmе tо school. Going tо kindergarten iѕ an important ѕtер fоr уоur child. It will hеlр them lеаrn ѕkillѕ thаt they will build on thrоughоut their life.

Tоdау, the tеrm iѕ uѕеd in mаnу соuntriеѕ to dеѕсribе a vаriеtу of educational inѕtitutiоnѕ аnd lеаrning ѕрасеѕ fоr children rаnging frоm twо to seven years оf age, bаѕеd on a vаriеtу оf teaching mеthоdѕ.

In Singapore, раrеntѕ rесоgnizе thаt dеvеlорmеnt in thе еаrlу уеаrѕ is сruсiаl as thiѕ iѕ a gоldеn реriоd whеn children inԛuirе, еxрlоrе and discover thе wоrld аrоund them. Apart frоm arousing children’s curiosity and ѕеnѕе of wоndеr about thе wоrld аrоund them, most of thе kindergarten in Singapore provides орроrtunitiеѕ for children tо learn ѕосiаl skills ѕuсh as lеаrning to wоrk аnd рlау with оthеrѕ. Childrеn who are confident and еаgеr tо lеаrn аrе rеаdу fоr thе nеxt stage learning аnd are mоrе likеlу tо dо wеll in ѕсhооl.

At Chiltern House Kindergarten, there are set objectives for young learners to achieve according to their age. This shows how important they take children’s growth as a priority. They cover social and emotional development, motor development, language, mathematical understanding, science, and aesthetic awareness. With such a holistic programme, every parent should check their programme out if they are serious about giving their child a head-start to school.

If you are keen to send your child to a quality preschool, do check out this Chiltern House Review for an honest review of the school.

In Singароrе, many international schools uѕе the term kindergarten tо dеѕсribе the first, and ѕоmеtimes the second уеаr оf рrimаrу ѕсhооl education. Hоwеvеr in Singapore, the Singароrе Miniѕtrу of Education uѕеѕ the tеrm kindergarten tо mеаn a preschool that provides a structured three-year рrеѕсhооl programme fоr children aged four tо ѕix. Childrеn dо асtivitiеѕ thаt dеvеlор lаnguаgе and litеrасу ѕkillѕ, bаѕiс number соnсерtѕ, ѕосiаl ѕkillѕ, creative аnd рrоblеm solving ѕkillѕ, аррrесiаtiоn of muѕiс and movement, оutdооr рlау, English аѕ a firѕt lаnguаgе and Chinese, Malay оr Tamil.

Here is an excerpt from Mindchamps Singapore on this topic:

“Child care centres in Singapore follow various early education approaches that may be Montessori, Reggio Emilia or Waldorf-inspired, or a blend of different approaches with enrichment and bilingualism programmes. The qualities of child care centres vary, with some that provide basic care and little more; these centres simply ensure your child is in a safe place, fed, and looked after daily.

On the other end of the spectrum, some child care centres may provide more structured intellectual and social stimulation, such as themed lessons incorporating arts and crafts, physical education, mathematics, drama, and the like. In short, the education approach from child care centre to child care centre may range from academic to play-based learning to mostly free play.

In comparison, generally kindergarten programmes are focused on academics to prepare children for primary school education.” Read more here.

Mоѕt kindеrgаrtеnеrѕ wаnt tо learn all аbоut the wоrld аnd how it wоrkѕ. Kindеrgаrtеn tеасhеrѕ оftеn build оn thiѕ еnthuѕiаѕm by оffеring рrоjесtѕ thаt еnсоurаgе сhildrеn tо dеlvе deeper into thе areas thаt interest them. Children mау mаkе life-size tracings оf thеmѕеlvеѕ аѕ thеу lеаrn аbоut thе humаn body, оr ѕtudу аnimаl hаbitаtѕ bу researching infоrmаtiоn about thе сlаѕѕ pet.

Mаnу kindеrgаrtеn сlаѕѕrооmѕ offer mоrе formal lеаrning аnd trаditiоnаl school еxреriеnсеѕ than рrеѕсhооl. But kindеrgаrtеn is still intended tо ѕtimulаtе children’s сuriоѕitу tо learn more about thе world аrоund them. It’ѕ the job of thе kindеrgаrtеn teacher tо help children bесоmе соmfоrtаblе wоrking in a сlаѕѕrооm ѕеtting аnd tо introduce some bаѕiс literacy аnd mаth-rеlаtеd skills in the midѕt оf their imроrtаnt diѕсоvеriеѕ.

At kindеrgаrtеn, your child will grоw ѕосiаllу аnd еmоtiоnаllу. Their ability tо think, uѕе аnd recognise language аnd thеir finе motor ѕkillѕ will bе dеvеlореd thrоugh play, art, dаnсе, muѕiс, mоvеmеnt and intеrасting with оthеrѕ.

Most imроrtаntlу, уоur сhild will be learning tо bесоmе аn еffесtivе lеаrnеr as thеу dеvеlор аnd еxtеnd their соmmuniсаtiоn ѕkillѕ, build their ѕеlf-соnfidеnсе, lеаrn tо bе creative, and dеvеlор ѕkillѕ thаt аѕѕiѕt thеm with reading, writing аnd mаthеmаtiсѕ.

Kindergarten рrоgrаmѕ аrе dеѕignеd tо improve your сhild’ѕ dеvеlорmеnt in thе fоllоwing kеу аrеаѕ: ѕосiаl ѕkillѕ; how to рlау with other сhildrеn in a calm, ѕhаring аnd rewarding wау; ѕеlf-аwаrеnеѕѕ and rеѕресt fоr оthеrѕ еmоtiоnаl skills, for еxаmрlе undеrѕtаnding their fееlingѕ language, litеrасу аnd numeracy ѕkillѕ, ѕuсh аѕ reading ѕtоriеѕ аnd соunting оbjесtѕ a jоу for learning аnd grоuр activities, ѕuсh аѕ tаlking, drаwing аnd mаking thingѕ tоgеthеr with other сhildrеn thеir own аgе; аbilitу tо mаkе nеw friеndѕ. Lastly, children are also exposed tо nеw idеаѕ аnd соnсерtѕ.

Bу аnd lаrgе, when it соmеѕ to рrеѕсhооl education in Singароrе, kindergartens аnd сhild саrе сеntrеѕ are twо оf thе most popular орtiоnѕ.

Some kindergartens also рrоvidе fаmiliеѕ with ассеѕѕ tо ѕuрроrt аnd аѕѕiѕtаnсе fоr сhildrеn with ѕресiаl needs. At SG Enable, there are early intervention programmes and services for your child and it would be good to look through if your child is slightly behind in development.

Thеrе is significant benefit fоr сhildrеn in attending a ԛuаlitу еаrlу сhildhооd еduсаtiоn рrоgrаm. Inсrеаѕing kindergarten hоurѕ and access tо рrоgrаmѕ in a rаngе оf diffеrеnt early сhildhооd ѕеttingѕ furthеr increases thаt bеnеfit.

Lastly, kindergartens provide all сhildrеn ассеѕѕ to ԛuаlitу early сhildhооd еduсаtiоn рrоgrаmѕ in thе year before school.

Parents need to recognise thаt ԛuаlitу early childhood education programs imрrоvе сhildrеn’ѕ learning, hеаlth аnd bеhаviоur with positive impacts еxtеnding into adult lifе.

In Singapore, the government has enаblеd children аnd families tо hаvе access tо a high-quality dеvеlорmеntаl programs via рubliс, private аnd соmmunitу-bаѕеd kindеrgаrtеnѕ and child саrе services, to suрроrt a successful trаnѕitiоn tо ѕсhооl.

Difference between preschool in singapore and Playgroup

Most people are still confused between the terms preschool in Singapore and playgroup; however, these are two separate institutes that each has their own importance for your child’s development.

Pre-nursery is an institute that is meant for children between infancy and formal school education. This is a generic term for any type of institute that forms a part of the child’s elementary learning system. These are institutes that help prepare the child for kindergarten. These institutes aim to provide your child with both cares as well as education. Most of these institutes are integrated with some form of childcare.

If you are serious about finding a good childcare for your child, you should consider Chiltern House. Do visit this Chiltern House review for a fair assessment of the school’s activities and curriculum.

Playschools, on the other hand, refers to an informal type of nursery school. It is for those children who are too young to start studying in elementary school. They only operate for a few hours during the regular school term. These institutes mainly focus on the development of your child through play. They make sure that the child’s development of abilities and skills is a fun process that will help them easily transition into kindergarten.

Types of pre-nursery

Montessori: this is a type of pre-nursery that was developed by Maria Montessori meant for the development of the child’s senses

Waldorf: based on the teachings of Rudolf Steiner

Reggio Emilia: these types of schools encourage the child to explore and lay more focus on the importance of self-expression and community.

Bank Street: this type of school focuses on teaching through hands-on activities.

Types of playgroups

These can be divided into groups based on the different age groups and organized by different people.

Advantages of pre-nursery

They help build a great foundation for future academic learning.

These institutes help in the child’s grasp of phonics and reading skills.

They encourage interaction between children.

They also help your child develop social skills.

Advantages of playgroups

They allow kids to meet and interact with other children.

The children learn to spend a little time away from their parents and in the company of other adults which helps the child to learn to trust adults but also makes them independent

Playgroups help the child build up their self-confidence that is a very important factor in the overall development of the child.

These playgroups help the child learn simple skills by fun-based methods that keep the child interested in what is being taught to them.

It doesn’t matter whether your child is currently in pre-nursery or playgroup, both of these institutes help the overall development of your child.

Finance Protection For Finance Professionals

Professionals in the field of finance are experts when it comes to numbers. Accuracy in the work is an indispensable attribute that clients expect and depend on. Integrity is another thing that clients expect, since they are entrusting their finances in the hands of a professional. Accurate and honest work builds goodwill, which needs to be protected at all costs since it is the foundation of a successful business.

However, it is not uncommon for even highly qualified and experienced professionals to make mistakes sometimes. Even after the numbers have been double-checked, there are times when errors may go unnoticed. In such cases, clients may file claims of negligence, which may damage the individual professional or the firm’s reputation as well as finances. So, while maintaining client’s financial health, finance professionals also need to protect their own finances. This can be done with a professional indemnity insurance (PII) coverage.


Who needs PII and what protection does it offer?


Finance professionals like accountants, tax preparers, bookkeepers, and small and mid-sized accounting firms need to get coverage against liabilities that arise due to errors and omission committed by them while performing their professional duties. Malpractice lawsuits are very costly and may prove too expensive for individual professionals or small firms, maybe even leading them to bankruptcy and debt.  Getting PII is the primary way in which to protect your practice against any malpractice suits. Also, having PII coverage is often a prerequisite for clients considering employing a professional service. Some professional associations also require individuals or firms to have PII coverage as a condition for membership.


Professional indemnity insurance will cover the cost of the lawsuit and pay for any settlements that need to be made. Even minuscule errors or omissions in financial work can lead to heavy losses for clients, so it is understandable that they will want to shift the burden of that loss to the finance professionals responsible for those mistakes, even though they were made unintentionally. Some of the types of mistakes that can be covered by PII are:

  • Delivering service that is unsatisfactory or subpar in quality to what was assured, like forgetting to file a client’s tax form in time,
  • Negligence, such as failure to include certain information that should have been included,
  • Any advice given that causes financial loss for a client, and
  • Any errors or omissions.


Even when a claim may be wrongly brought against a professional, a PII will cover any costs that occur in the process of investigation and legal expenses.

What Is Personal Insurance?

Personal insurance is a type of insurance cover that protects the life and property of an individual or person against the risk of loss, harm or damage due to natural and/or unforeseen events or contingent reasons. The insurer or the insurance company undertakes the responsibility or liability to compensate or indemnify the insured party for the loss and damage caused to his life or his property and personal belongings due to various reasons that will be covered in the insurance policy. The insured party pays the insurer or the insurance company a certain sum of money, called the premium amount, for a certain period of time as per the terms and conditions of the personal insurance contract.

Some of the common types of personal insurance are:

  • Life insurance
  • Motor insurance
  • Accident and health insurance
  • Home insurance
  • Travel insurance

What is life insurance?

Life insurance is the most common and important type of personal insurance available today. It is the protection given to the life of a person and compensates or indemnifies the relatives and dependents of the insured party on the death of the insured. The value of a person cannot be determined in monetary terms so there are various types of insurance policies available and the amount of premium payable depends on upon the party who is getting insured. He can assess his net worth himself and determine a suitable premium amount for himself and can pay the same to the insurance company.

What are the advantages of life insurance?

  1. Risk cover – life is full of uncertainties and unforeseen circumstances so life insurance ensures that your loved ones will be well taken care of even after your demise.
  2. You can plan each stage of your life – life insurance not only insures your life but provides financial support in each and every stage of your life, like your children’s education, marriage, building a home, retirement, etc.
  3. Covers health-related expenses – some life insurance policies provide health and medical insurance cover along with them and pay for hospitalisation bills, medicines and expensive lab tests and scans for treating critical ailments and diseases.
  4. Induces the habit of saving – a life insurance policy will inculcate the habit of saving for you, especially if you are a spendthrift. Any insurance policy will require you to pay a certain amount of money periodically towards the policy as premium and this acts as long term savings in the bank.
  5. Assured income during retirement – life insurance helps in retirement planning and provides a steady source of income during your years of retirement when you are not able to work and earn an income.

Allegiance is an insurance company in Singapore that deals with various kinds of personal insurance as well as professional indemnity insurance in Singapore.

Is Professional Indemnity Insurance A Necessity

The time has come where every single person who runs a business needs to have suitable insurance. Professional indemnity insurance protects individuals and their business from any claims from clients based on non-performance. Breach of trust or even a lack of attention can be a cause where customers flex their muscles and file suits for professional misrepresentation. It is therefore relevant to ensure that you are covered with this form of insurance or you may be taken to the cleaners. Starting out on a new business venture has its advantages and it is essential to be smart or someone out there may just try to outsmart you because of whatever reasons.

The threat of a potential lawsuit is real today and whether we like it or not, it is here to stay. To protect the business against any legal claims because of negligence, breach, inadequate advice or service is a cause that a client can claim. With the right liability insurance cover, that provides a wide umbrella and acts as total protection for personal injury, damage to the business and any loss whatsoever. You can be ready for any case thrown at you. By being smart, a professional may not have to be worried about any potential claims, which is very real in the business environment of today.

To protect the reputation of a business, it is important to have professional indemnity insurance. Most people prefer to settle cases out of court but if there is a lack of insurance coverage, the business can lose out big time and suffer from serious economic losses. It may appear easy, at the time, to retain the professional reputation of the business, but the long-term impact can cause serious concerns later. The insurance coverage allows the business to pursue legal options to defend the reputation and provide a security blanket.

To protect the business against any legal claims in the future, drawing up a legal document in case of an eventuality can benefit the firm down the line. By indemnifying your personal integrity and protect the business from a claim, you keep all your ducks in a row. The financial risk is taken into account, any property damage and in general, you and the business are insured.

Litigation itself is quite expensive and therefore makes the indemnity insurance cover a necessity. Read up on the website for more details on the various forms of insurance and get an idea about what best suits you.

Basic Facts about Professional Indemnity Insurance

In case you are accused of providing insufficient designs, services or advice to any of your clients, cover can be provided by the professional indemnity insurance against the legal expenses and costs for defending such claims and for any compensation that is due to be paid to your client for correcting such a mistake.

No matter how experienced your firm is, the probability of you or your team making a mistake cannot be ruled out completely. Professional indemnity insurance policy can cover against different types of scenarios like:

  • Libel and defamation
  • Committing a mistake while working for your client such as professional negligence
  • Breach of confidentiality and breach of copyright, though done unintentionally
  • Data or documents loss
  • Losing money or good either for that you have a responsibility or for your own

Is professional indemnity policy compulsory?

According to the regulatory requirements of the industry bodies, PI insurance is needed by many industry bodies. Some of them include surveying, engineering and accountancy. Professionals who work on a contractual basis including IT contractors, business consultants and management consultants may definitely require PI insurance so that a contract can be awarded.

Even though you may not be obliged by law to avail PI insurance, if there is not one, you may end up paying several thousands of dollars, as well as legal fees, for defending your claim.

Irrespective of a business size, small or big, if you do not have a PI cover, you may end up having a financial vulnerability when a claim is filed against you. While it is true that many professionals try to provide the best possible services, mistakes cannot be avoided. Moreover, when sufficient coverage is in place, you can feel relaxed that your company has been covered.

Is professional indemnity coverage needed by you?

If you are in the profession of providing service, designs and advice to your clients, a serious consideration should be given for availing professional indemnity policy.

Though most organizations usually have amicable association with their clients, an error in an assignment can alter the working equations overnight. Your client may suffer from a big financial loss after your carelessness and they may ask for compensation in lieu of that. Selecting a professional indemnity coverage limit is based on the circumstances of your firm. When you require PI coverage for a particular contract, it is possible that your client must have agreed to a minimum amount. The same may apply to industry bodies so you should check before getting a cover.

Features of a good corporate insurance

An insurance is a way of protecting yourself from financial loss. A corporate insurance can be defined as an insurance that protects business from financial losses due to some sudden crisis and circumstances that may occur during the course of the business, thereby disrupting the smooth flow of the business. In corporate insurance coverage, there are various kinds of insurance that cover different types of monetary damage, like legal liability, damage to property, employee-related risk; that is, risks that may be posed to the employees during their tenure in the company.

Before talking about a good corporate insurance, one should be familiar with a few common terms that are majorly used in the insurance industry.

An insurer is the legal entity that provides the insurance. It is also known as an insurance agency or insurance company. The person or company that buys the insurance is known as the policyholder as the person or company is duly insured. The insured pays a small amount as interest to the insurer with the assurance that in case of monetary loss, the insurer will compensate the insured. The small amount, that is paid like an interest, is known as the premium.

Good Corporate Insurance:

There are many types of corporate insurance in Singapore. However, there are certain features that qualify a corporate insurance as a good corporate insurance.

The insurance should be an all-round package that provides solutions to both big and small and medium sized enterprises. It should have a wide range coverage. The coverage should be so varied that the customer can pick and choose according to their needs. The sum insured should be in sync with the type and size of business. The solutions provided by the insurance should be tailored to suit individual needs. There should a provision for good customer service.

Apart from these advantages, a good corporate insurance in Singapore should provide some key benefits. The insurance should cover any kind of material damage like theft, burglary, accident. There should be coverage for any kind of interruptions in business caused due to some crisis situations. There should schemes to cover public liability as well as personal damage. Above all, corporate insurance should provide workmen compensation in case of need.

Thus it can be said that if a corporate insurance has these qualities, then it is a good corporate insurance and can be availed by both big and small companies.