Workforce Coverage
Compulsory insurance bond for employers of work permit and S Pass holders — covering repatriation costs and administrative requirements set by MOM.
Backed byAXA · Chubb · Allianz · Zurich · Manulife
“Managing bonds for 80 construction workers used to require separate cash deposits. TRS set up a group bond policy that freed up over S$400,000 in working capital on day one.”
Workforce Coverage
Covers the cost of repatriating your foreign worker to their home country if they become unable to work, their permit is cancelled, or employment ends.
Policy structured to fully satisfy the Ministry of Manpower's S$5,000 security bond requirement per work permit holder — accepted in lieu of cash.
Covers administrative costs associated with worker repatriation including permit cancellation fees, documentation, and handling charges.
Cost-effective group bond insurance for employers with large foreign worker populations — reduced per-worker cost with single-policy administration.
Yes. Employers of work permit holders (except FDWs) must furnish a security bond of S$5,000 per worker to MOM.
MOM can call on the bond if the employer fails to repatriate the worker at the end of employment or permit cancellation.
Yes. MOM accepts insurance bonds as a substitute for cash security deposits, freeing up working capital.
TRS can issue bond certificates within 1 working day for group policy holders, and within 2–3 days for individual bonds.