e-Paper
On May 1, 1886, labour unions in the United States decided to go on a strike demanding that workers should not be made to work for more than eight hours a day.
Just three days after the strike began, a blast occurred in Chicago's Haymarket Square leaving many dead.
To honour those who died in the blast, the International Socialist Conference declared May 1 as a day designated for labourers.
The commemorative day was established at a meeting in 1889 and gradually spread to other parts of the world.
In Singapore, Labour Day is celebrated as a mark of solidarity among workers. It was gazetted as a secular public holiday in 1960 - a paid day of rest to honour all who have worked hard to make Singapore a successful nation.
Annually, the labour movement organises the May Day Rally and a series of celebratory events in May.
Singapore prizes its workers and the Government has made it mandatory that employers should take care of them well. Work injury compensation insurance As per regulations, employers must buy work injury compensation insurance from a designated insurer for all employees doing manual work, as well as those earning $2,600 or less a month.
Both local and foreign employees are covered under this rule.
Failure to provide adequate insurance is an offence carrying a fine of up to $10,000 or jail of up to 12 months or both.
Foreign domestic worker insurance Domestic helpers must also be provided with medical and personal accident insurance.
Before a helper arrives in Singapore, the employer must buy medical insurance and personal accident insurance - as part of the medical obligations - for the helper.
The medical insurance must have a coverage of at least $15,000 a year for inpatient care and day surgery.
The personal accident insurance must have a sum assured of at least $60,000 a year and cover sudden, unforeseen and unexpected incidents resulting in permanent disability or death. Security bond The employer must also buy a $5,000 security bond for the helper, unless the helper is a Malaysian, from a bank or insurance company.
It is a binding pledge to pay the Government if either the employer or the helper breaks the law or Work Permit conditions.
The bond is in the form of a banker's or insurer's guarantee. It is also mandatory for the employer to buy a medical insurance plan for each foreign worker employed.
The insurance details must be submitted online before the Work Permit is issued. There are several insurance companies offering worker insurance packages.
India International Insurance Singapore (III) has an impressive range that provides several benefits.
Its premiums are competitive and provide attractive and consistent policy parameters, which are not changed frequently.
III is a designated insurer in Singapore for the Work Injury Compensation Act (WICA) policy.
III's foreign workers' medical and personal accident insurance policy covers several aspects, including hospital room and board charges, intensive care unit treatment, surgery charges, specialist consultation fees and post-hospitalisation treatment.
Death and permanent disability are also covered.
The i-Maid insurance policy covers accidental death and permanent disablement, outpatient medical expenses, hospital and surgical expenses, wages and levy reimbursement and repatriation expenses. More details about III's retail policies are available at www.iii.com.sg
