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What is TM Business Suite?

TM Business Suite is a comprehensive business insurance package product which provides multiple insurance covers for your Business. In addition, you have the power to customise your coverage through our Suite Selections.

We have specially tailored our TM Business Suite packages to suit your business type, choose from:

  • TM Office Suite

  • TM Service Suite

  • TM Retail Suite

  • TM Dining Suite

Our packages offer you multiple benefits:

  • A critical defence against elements that can disrupt or damage your Business

  • Peace of mind at the most affordable rates

  • Flexibility to select different sum insured / limits of cover to cater to your different business needs

Key Coverage

Important coverage information for TM Business Suite packages:

Key Insurable Businesses

Key Insurable Businesses

TM Office Suite

 Establishments that conduct their business in and from offices

TM Service Suite

Examples of establishments that primarily conduct their business in the service sector include, but are not limited to:

  • Businesses in Consulting Room Environments

  • Photographic Studios

  • Wedding Planners

  • Beauty Services including Hair & Beauty Salons, Manicures & Pedicures

  • Medical or Dental Clinics

TM Retail Suite

Establishments that sell consumer merchandise such as clothing, books & stationery, gifts & souvenirs, drugs & medical products

TM Dining Suite

Restaurants – Establishments that sell foodstuff (including beverages) for consumption at the premises providing dedicated and exclusive dining-in facilities. These would also include cafes, coffee houses and bistros.

Food Stall – Establishments that sell foodstuff (including beverages) for consumption at the premises with dining-in facilities which are neither dedicated nor exclusive to the stall owners. These would also include food kiosks, stalls in the food court, hawker centres and canteens.

Food Retailers – Establishments that sell foodstuff (including beverages) purely on “take-away” consumption basis and no dining-in facilities are provided. (However, this does not include food catering operators)

 

Trades or Premises not covered under TM Business Suite packages include, but are not limited to:

  • Pubs, bars, discotheques, karaoke lounges, nightclubs;

  • Establishments that are primarily in the business of food catering & delivery services;

  • Establishments that are primarily in the business of manufacturing, loss adjusting, pest control or cleaning services;

  • Massage parlours;

  • Betting outlets;

  • Arcade or Billiard centres;

  • Learning Centres except those exclusively conducting training courses for Executives/Professionals;

  • Aesthetic/Cosmetic surgeries or treatments;

  • Driving services including lessons;

  • Martial arts courses;

  • Establishments housed in class two/three construction premises or make-shift structures;

  • Establishments that are primarily in the supply or sale of motor vehicles, electronic or electrical goods, joss paper & incense, jewellery, watches, works of art and antiques;

  • Premises that are not located in Singapore.

Suite Coverage

Suite Coverage

TM Business Suite packages provide the following essential insurances, customizable for your benefit:

Sections

Summary of Cover

1. Property All Risks

Covers damage to your renovations, contents and stock-in-trade at the Situation due to an Accidental cause.

2. Business Interruption

Covers consequential loss of revenue and/or profit from the interruption of, or interruption with your Business which resulted from Accidental loss or damage to Property insured under Section 1.

3. Money

Covers loss of money, in transit, kept in the premises during business hours or kept in the premises in locked drawers/safes after business hours.

4. Personal Accident

Covers death or permanent disability of the owner(s)/partner(s), named in the Schedule as a result of Accidental injury.

5. Public Liability

Covers you for amounts you are legally liable to pay to third parties as compensation for bodily injury and/or property damage occurring within the territorial limits defined in the Schedule as a result of an occurrence in connection with your Business.

6. Work Injury Compensation  Act Insurance

Covers you for amounts you are legally liable to pay under the Work Injury Compensation Act (Cap. 354) or Common Law for injury sustained by your immediate employees, limited to those covered in the Schedule, during the period of insurance arising out of and in the course of their employment by you in the Business.

7. Fidelity Guarantee*

Covers you against loss of property insured (including money) due to the fraudulent or dishonest conduct of your employees.

8. Suite Selections*

Add-on coverage for i) Hospital Cash and/or ii) Deterioration of Stock and/or iii) Goods In Transit and/or iv) Rental Expenses and/or v) Self-Store Contents

*These are optional add-ons which are subject to additional premium.

Customise your coverage with our Suite Selections:

  • Upgrade your Personal Accident coverage with our Hospital Cash extension

  • Extend your insurance to cover Deterioration of Stocks

  • Insure your Goods In Transit from accidental loss or damage

  • Cover your Rental Expenses in the event of business interruption

  • Expand your coverage on property to include Self-Store Contents

 

COMPREHENSIVE COVERS

The business package provides the following protections subject to the limits of the plan you have selected:

  • Section 1: Fire and defined events
    Covers damage to your contents caused by fire or other defined events.
  • Section 2: Business interruption
    Covers consequential loss of revenue and/or profit caused by interruption of or interference with your business caused by fire or other defined perils.
  • Section 3: Theft
    Covers damage to or loss of your contents and damages to your premises as a result of theft by violent and forcible entry into or exit from the premises or armed hold-up.
  • Section 4: Money
    Covers loss of money in transit, money kept in your premises during business hours or kept in the premises in locked drawers or safes after business hours. It also covers loss of money removed from the premises and kept overnight in locked drawers or safes at your place of residence.
  • Section 5: Plate glass
    Covers accidental breakage of plate glass at your business premises.
  • Section 6: Personal accident
    Covers accidental death or permanent disability of the named proprietor or partners of the business.
  • Section 7: Fidelity guarantee
    Covers you against pecuniary loss due to fraudulent or dishonest conduct of your employees.
  • Section 8: Work injury compensation
    Covers you for amount you are legally liable to pay under the Work Injury Compensation Act or at Common Law for injury sustained by your workman arising out of and in the course of their employment in your business.
  • Section 9: Public liability
    Covers you for amounts you are legally liable to pay as compensation for bodily injury and/or property damage as a result of an occurrence in connection with your business. Included in this section is cover against your legal liability arising from food and drinks poisoning or contamination.
  • Section 10: Goods-In-Transit
    Covers you for damage or loss of your contents whilst in the course of transit within mainland Singapore by vehicle owned or hired by you. 

COMPREHENSIVE COVERS

The business package provides the following protections subject to the limits of the plan you have selected:

  • Section 1: Fire and defined events
    Covers damage to your contents caused by fire or other defined events.
  • Section 2: Business interruption
    Covers consequential loss of revenue and/or profit caused by interruption of or interference with your business caused by fire or other defined perils.
  • Section 3: Theft
    Covers damage to or loss of your contents and damages to your premises as a result of theft by violent and forcible entry into or exit from the premises or armed hold-up.
  • Section 4: Money
    Covers loss of money in transit, money kept in your premises during business hours or kept in the premises in locked drawers or safes after business hours. It also covers loss of money removed from the premises and kept overnight in locked drawers or safes at your place of residence.
  • Section 5: Plate glass
    Covers accidental breakage of plate glass at your business premises.
  • Section 6: Personal accident
    Covers accidental death or permanent disability of the named proprietor or partners of the business.
  • Section 7: Fidelity guarantee
    Covers you against pecuniary loss due to fraudulent or dishonest conduct of your employees.
  • Section 8: Work injury compensation
    Covers you for amount you are legally liable to pay under the Work Injury Compensation Act or at Common Law for injury sustained by your workman arising out of and in the course of their employment in your business.
  • Section 9: Public liability
    Covers you for amounts you are legally liable to pay as compensation for bodily injury and/or property damage as a result of an occurrence in connection with your business. Included in this section is cover against your legal liability arising from food and drinks poisoning or contamination.
  • Section 10: Goods-In-Transit
    Covers you for damage or loss of your contents whilst in the course of transit within mainland Singapore by vehicle owned or hired by you. 

COMPREHENSIVE COVERS

The business package provides the following protections subject to the limits of the plan you have selected:

  • Section 1: Fire and defined events
    Covers damage to your contents caused by fire or other defined events.
  • Section 2: Business interruption
    Covers consequential loss of revenue and/or profit caused by interruption of or interference with your business caused by fire or other defined perils.
  • Section 3: Theft
    Covers damage to or loss of your contents and damages to your premises as a result of theft by violent and forcible entry into or exit from the premises or armed hold-up.
  • Section 4: Money
    Covers loss of money in transit, money kept in your premises during business hours or kept in the premises in locked drawers or safes after business hours. It also covers loss of money removed from the premises and kept overnight in locked drawers or safes at your place of residence.
  • Section 5: Plate glass
    Covers accidental breakage of plate glass at your business premises.
  • Section 6: Personal accident
    Covers accidental death or permanent disability of the named proprietor or partners of the business.
  • Section 7: Fidelity guarantee
    Covers you against pecuniary loss due to fraudulent or dishonest conduct of your employees.
  • Section 8: Work injury compensation
    Covers you for amount you are legally liable to pay under the Work Injury Compensation Act or at Common Law for injury sustained by your workman arising out of and in the course of their employment in your business.
  • Section 9: Public liability
    Covers you for amounts you are legally liable to pay as compensation for bodily injury and/or property damage as a result of an occurrence in connection with your business. Included in this section is cover against your legal liability arising from food and drinks poisoning or contamination.
  • Section 10: Goods-In-Transit
    Covers you for damage or loss of your contents whilst in the course of transit within mainland Singapore by vehicle owned or hired by you. 

How much is my premium

Our TM Business Suite packages are affordable and highly customizable, and the premium may vary depending on the plan you select.

To make our products even more competitive, we offer attractive discounts that really make business sense:

  • Enjoy a 10% No Claim Discount off your TM Business Suite renewal premium*

  • Take advantage of our 10% Chain Discount if you insure 3 or more branches/outlets with us**

*All Renewal Discounts are subject to no claims for the preceding 12 months

**For Chain Discounts, all branches/outlets are subject to no claims for the preceding 12 months

Download TM Dining Suite Brochure under Product Literature.

Download TM Office Suite Brochure under Product Literature.

Download TM Retail Suite Brochure under Product Literature.

Download TM Service Suite Brochure under Product Literature.

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What we don’t cover (General Exclusions Applicable to all Sections)

  • War, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power
  • Use, existence or escape of nuclear weapons material or ionising radiation from or contamination by radioactivity from any nuclear fuel or nuclear waste from the combustion of nuclear fuel.
  • Lawful seizure, detention, confiscation or nationalisation or requisition of destruction of property by or under the order of any government or public or local authority
  • Acts of terrorism
  • Asbestos in whatever form or quantity
  • The failure or inability of any computer, electronic equipment, data processing or media, embedded chip, integrated circuit or similar device or firmware or any computer software occurring at any time to:
    • Correctly recognise any date as its true calendar date
    • Capture, save or retain, and/or correctly to manipulate, interpret or process any data or information or command or instruction as a result of treating any date otherwise than as its true calendar date
    • Capture, save, retain or correctly to process any data as a result of the operation of any command which has been programmed into any computer software, being a command which causes the loss of data or inability to capture, save, retain or correctly process such data or the inability on or after any date.
  • Except as specifically provided otherwise, this policy does not cover:
    • Consequential loss of any kind
    • Legal liability to pay compensation 
    • Fines, penalties or exemplary damages whatsoever
Note:
This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this Policy. 
Important information

This insurance is underwritten by Tokio Marine Insurance Singapore Ltd. All benefits and features mentioned here are subject to the terms and conditions of the policy. Please refer to the policy contract for the precise terms and conditions of this insurance plan. The information shown here is for reference only.

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