How Singapore has rolled out innovative COVID-19 insurance coverage for travellers

Travellers arriving in Singapore would be able to purchase COVID-19 insurance cover up to SGD 30,000 (USD 22325.55) during their stay in the country, a media report said. In a joint statement, the Changi Airport Group (CAG) and the Singapore Tourism Board (STB) said that three insurance companies have developed the travel insurance products and it would cover coronavirus related cost incurred by the travellers during their stay in the country.

“Three insurance companies have developed travel insurance products which provide at least SGD 30,000 (USD 22325.55) in coverage for COVID-19 related medical treatment and hospitalisation costs,” the government statement said. The minimum coverage sum was decided based on recommendations by the Ministry of Health (MOH), which considered bills for COVID-19 treatment at private hospitals.

The three companies providing insurance coverage are AIG Asia Pacific Insurance, Chubb Insurance Singapore and HL Assurance. While AIG and HL Assurance have started selling their insurance products, Chubb’s will be available from 27 November, the report said.

Meanwhile, Singapore reported six imported cases of COVID-19 this week, all of whom have been placed on stay-home notice. There was no local case, it added. With the six cases reported this week, Singapore had 58,135 coronavirus infections till date.