General Risk Management

Wayne Beach Consultants general risk management approach is strategically geared towards securing the global assets of its key stakeholders, minimize liabilities, limit defaults in agreements, eliminate litigation where possible and protect stakeholder’s cash flow. The applicable approach in all risks management cases will follow a dynamic approach understanding that scenarios and environment differ. At Wayne Beach Insurance Consultants, our service experience spans across a wide spectrum of global industries, with insurance products tailored to meet the specific needs of the every client. With the different risk profile and exposure of each client or corporation, it is important that the company undergoes our stringent risk assessment process to identify the risks exposure for the formulation of the right insurance cover.

Business Insurance Products

This Wayne Beach Insurance product acts as collateral that guarantees that the advance payment will be returned to the buyer if the seller does not fulfill its obligations on delivery of goods or services. It is also required when a Contractor applies for an advance payment from the Principal or Client to help fund the preliminary costs and mobilization works of the contract.

This is a Wayne Beach Insurance product issued as part of a supply bidding process by the contractor to the project owner to provide guarantee, that the winning bidder will undertake the contract under the terms at which they bid.

Your company might have a fleet of vehicles consisting of several commercial vehicles for your business, various passenger cars for key personnel and salesman, motorcycles for your dispatch riders and company bus to ferry your workers. Let Wayne Beach Insurance Consultants review your policy coverage and its premium.

This is a Wayne Beach Insurance product issued to one party of a contract as a guarantee/collateral against the failure of the other party to meet obligations specified in the contract. It is common in construction and real estate development (Private & Government Projects). In such situations, an owner or investor may require the developer to assure that contractors or project managers acquire it in order to guarantee that the value of the work will not be lost in an event of unforeseen circumstances.

This Wayne Beach Insurance product known as Credit Security bond or Credit Guarantee serves as collateral for the repayment of a commercial or private loan. A loan or capital investment is often made subject to the provision of collateral by the borrower directly or through a third party guarantor. The borrower therefore procures this guarantee as a replacement for the loan collateral to the beneficiary (loan provider). The beneficiary can generally assert claims under this guarantee by declaring in writing that the borrower has not repaid the loan or outstanding balance upon maturity.

Industrial All Risk insurance is designed to insure the property and Business interruption in one Single Policy. The Property (Building, Improvements, Contents, and Stocks) is insured on an All Risk Coverage. With an all risk cover, the insured will be covered for any accidental and unforeseeable loss unless specifically excluded. This Wayne Beach Insurance product policy seeks to address the risk exposure of operations in a building or multiple premises with a single policy providing compensation for such as Fire, Consequential loss due to business interruptions, Burglary and Theft, Money ETC

This Wayne Beach Insurance product policy provides comprehensive cover against the following:

Loss or damage for goods in transit from point A to B by sea, air (including courier) and land

The Freight Forwarders Liability Insurance which insures not only forwarders, but also other related companies which provide logistic solutions for their clients. This includes Freight Forwarders; Non-Vessel Operating; Common Carrier; Warehouse Operators / Consolidators; Logistic Operators. The policy has several sections which addresses the risk of the insured whist handling the goods for its owner: (Cargo Liabilities, Third Party Legal Liability, Liability for Fines and Duties, Claim Expense Pleasure Craft Insurance. Whilst enjoying the fun of having a pleasure craft, you may not want to forget the potential loss and liability from any accident whilst in the open sea. The pleasure craft insurance provides cover for not only the cost of the Hull, but also potential liability to property and the passengers.

This Wayne Beach Insurance Consultant’s Retention is a percentage (often 10% -20%) of the amount certified as due to the contractor on an interim certificate that is retained by the client. This ensures the contractor properly completes the works required under the contract.

If you are selling to your customers on an unsecured trade credit terms, your biggest fear will be the client to paying you. Non-payment can be due to various reasons and trade credit insurance serves to protect your company from the non-payment by your clients. The Wayne Beach Policy is suitable for companies with domestic sales or export business.


For domestic sales, trade credit insurance would cover for risk involving insolvency of clients and default of payment. If you are also exporting to overseas, your other concerns which trade credit insurance can address are public buyer risk, payment transfer risk, import restrictions risk, political risk, war and unrest risk etc. With the trade credit insurance in place, your debtors listing will be managed with the insurer professional credit control team. You will no longer have to worry for payment default of your customers. This will serve to protect your balance and company profit from bad debts.

This Wayne Beach Insurance product is collateral that provides guarantees to the project owner that the contractor who did the work will come back and fix defective work or material should an issue arise during the warranty period specified in the contract.

This Wayne Beach Insurance product is a statutory requirement in accordance to all local and international labor laws. As an employer, you are required to have a Work Injury Compensation Insurance policy covering all your employees doing manual work as well as those employees earning the equivalent of $3,000 or less a month. It pays compensation for any work-related death, injury and occupational disease of your workers arising out of and in the course of employment including oversea assignment.


Wayne Beach Personal Accident Insurance provide a lump sum payment up to the sum Insured when the Life assured passes away or suffer permanent disability as a result of accident. This product policy is 24hrs worldwide cover. It is targeted at providing a lump sum payment to the family or assured when the bread winner is unable to provide for the family due to accident. This product policy can be enhanced to cover Temporary Total/Partial Disability, Medical Expenses, TCM, and Hospital Income Loss.

This Wayne Beach Consultants product provides comprehensive cover for insurer’s home. Your home may be a HDB flat, Private Condominium, or Landed property, it is probably one of your most important investment and this is why it is so important to have your place properly insured against any losses, and also any inconvenience and liability which may arise. Insurance for homes may be similar, but it is important to understand the risk and concerns which you need to address with right insurance plan.

This product policy is usually on a multiple coverage package, which addresses the common concerns which home owners may face. However, it is important to note that the policy is on a yearly renewal basis and that the policy will deem to be void if renewal is not processed before its expiry. Most of the benefits are on indemnity basis. Apart for the insurance on the property, most home insurance will also packaged other benefits under the policy to address to the other concerns of the policy holders.

  1. Fire or All risk cover
  2. Burglary and Theft cover
  3. Loss of Rent and Temporary Accommodation
  4. Public Liability
  5. Personal Accident
  6. Loss of Money
  7. Removal of Debris
  8. Breakage of Glass
  9. Accidental Death or Loss of Pet
  10. Emergency Home Assistance
  11. Personal Belongings Worldwide cover
  12. Conservancy Fee

This product may be a comprehensive or a third party insurance cover depending on the desire of the Insurer and the age of the vehicle. The basic cover includes Fire, Damage or Accident and Theft. Some additional benefits provided by our product are Personal Accident for Drivers and Passengers, Courtesy Car and Loss of Use. Please reach out to us for additional cover information.

Domestic Helper / Maid Insurance

Recreational Insurance Covering (Personal Accident, Liability to the Public or Equipment)

Homeowner’s/Tenant’s Insurance

Pet Insurance

Travel Insurance