Work injury compensation insurance

HL Assurance vs MSIG WICA insurance

HL Assurance and MSIG side by side on the same typical employers, as business packages with WICA for all staff, from their published rates.

By Sabrina Tan, Writer · Prices as of 12 Nov 2026, GST included.

Which is cheaper

Of the 4 typical employers both are shown for on our pages, HL Assurance was cheaper on 4, MSIG on 0. Your own business can change the order.

HL Assurance is our one featured insurer for work injury compensation: you buy it through our Buy Now link. As on our work injury compensation page, a package from another insurer priced below HL Assurance’s is not shown, and a package whose WICA would leave a staff member out is not shown either.

Price for each employer

Each insurer's cheapest package with WICA for all staff, a year, GST included. Open an employer for every insurer's package and its Apply Now or Buy Now.
Employer	HL Assurance	MSIG
Office20 staff	S$708.50Business Protect360	S$726.17SUMO
Office20 staff, S$60,000 each	S$708.50Business Protect360	S$726.17SUMO
Minimart3 staff	S$316.10Business Protect360	S$333.06SUMO
Minimart3 staff, S$60,000 each	S$316.10Business Protect360	S$333.06SUMO

Both packages for a professional services office with 20 staff

HL Assurance's and MSIG's cheapest packages with WICA for a professional services office with 20 staff: a year, GST included.
Insurer	A year	Value score	Of which WICA	Public liability	Contents and stock
HL AssuranceFeaturedBusiness Protect360Buy Now	S$708.50	81	Included in the package price	S$1,000,000	S$100,000
MSIGSUMOBuy Now	S$726.17	40	About S$442.60	S$1,000,000	S$100,000

Questions people ask

Is HL Assurance or MSIG cheaper for WICA?

Of the 4 typical employers both are shown for on our pages, HL Assurance was cheaper on 4, MSIG on 0. Your own business can change the order.

How much of each price is WICA?

For a professional services office with 20 staff: HL Assurance included in the package price of S$708.50; MSIG about s$442.60 of S$726.17.

How do I buy it?

Buy Now takes you to the insurer’s own site, where you buy the package with WICA with your company’s real details and the insurer issues the policy. Sompo, EQ, Tokio Marine and Great American take an application form instead: Apply Now sends your details to us, and we get the form, help you fill it in and place the cover. Ask Shenton to arrange sends us the plan you picked and we arrange it for you.