Advice to WSHC on its Initiative for Insurers
In February 2014, the Workplace Safety and Health Council (WSHC) requested advice from CCS on its initiative for insurers to collect and share claim records of insured organizations. This is to allow insurers to price insurance premiums more accurately and encourage companies to adopt better workplace safety and health practices to enjoy lower premium potentially.
CCS worked with WSHC to understand the initiative in the context of the workplace health and safety insurance market in Singapore. We assessed that the initiative is unlikely to affect competition in the market adversely and hence unlikely to infringe the Competition Act. In addition, CCS made several recommendations for WSHC to consider in its implementation of the initiative so as to safeguard and enhance competition in the market.