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Visitors to Singapore can now buy travel insurance
that covers them for COVID19 related costs incurred whilst in the
city state.
Three insurance companies - AIG Asia Pacific
Insurance, Chubb Insurance Singapore and HL Assurance - have
developed travel insurance products which provide at least
S$30,000 in coverage for COVID19 related medical treatment and
hospitalisation costs.
A minimum of S$30,000 in coverage is recommended
by the Ministry of Health based on COVID19 bill sizes at private
hospitals, which is where inbound travellers typically receive
care.
Inbound foreign travellers entering Singapore via
the various Safe Travel Lanes are required to bear the full cost
of medical treatment, tests and isolation, should they be
suspected of being infected with COVID19, or require medical
treatment for COVID19 while in Singapore. With immediate
effect, they will be able to purchase a travel insurance plan
to help them cover some of the costs.
“We have been actively engaging the insurance
community since August this year, through an Expression of
Interest (EOI) exercise, to develop inbound travel insurance
products as Singapore progressively reopens. We noticed such
products were not available in the market, and wanted to encourage
insurers to develop such products and offer them to travellers at
a reasonable price,” said Mr Lee Seow Hiang, Changi Airport
Group’s Chief Executive Officer.
Premiums for the inbound travel insurance plans
start from S$5.35 (inclusive of GST) and can be purchased directly
from the insurers through their respective websites.
Mr Keith Tan, Singapore Tourism Board’s Chief
Executive, said, “As we gradually re-open for safe travel, COVID19
insurance coverage is a key enabler to rebuild traveller
confidence and provide peace of mind. We are heartened that the
public and private sectors have come together to provide
solutions, and we look forward to more collaborations that will
help Singapore lead the way as a safe, trusted and innovative
destination.”
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