Inbound foreign visitors to Singapore will now be able to purchase
travel insurance coverage for Covid-19 related costs incurred locally,
according to a joint media statement from Changi Airport Group (CAG) and
the Singapore Tourism Board (STB).
With earlier research pointing to inbound insurance coverage as a key
factor to revive inbound travel to Singapore, the two stakeholders had
worked with the General Insurance Association of Singapore (GIA) to lead
an Expression of Interest (EOI) exercise to suss out initial interest
since August 2020.
In response, three private sector insurance companies — AIG Asia
Pacific Insurance, Chubb Insurance Singapore and HL Assurance — have
developed travel insurance products which provide at least S$30,000
(US$22,357) in coverage for Covid-19 related medical treatment and
This finalised amount comes recommended by the Ministry of Health,
based on Covid-19 bill sizes at private hospitals, where inbound
travellers typically receive care for Covid-19.
“We noticed such [travel insurance] 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 Lee Seow
Hiang, CAG’s CEO.
“As we gradually reopen for safe travel, Covid-19 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,” said Keith Tan, STB’s chief executive.
Currently, inbound foreign visitors entering Singapore based on the
various Safe Travel Lanes arrangements are expected to bear the full
costs of medical treatments, tests and isolation, should they be
suspected of a Covid-19 infection or require medical attention for the
illness while in Singapore.
With this new announcement, travellers will now be able to purchase a travel insurance plan to offset some of these costs.
Premiums for these inbound travel insurance plans start from S$5.35
(inclusive of GST) and can be purchased directly from the insurers
through their respective websites.
The new insurance products will also complement Singapore's ongoing
work in testing prototypes to resume safe travel, including this week's
TravelRevive trade show prototype. This testing was announced by the
Emerging Stronger Taskforce Alliance for Action on Enabling Safe and
Innovative Visitor Experiences in September.
Covid coverage for travel bubble flights
With the kickstart of the Singapore-Hong Kong travel bubble,
travellers flying with Singapore Airlines (SIA) from either Singapore or
Hong Kong also have the option of adding Covid-covered travel
insurance, according to a report by The Business Times.
Underwritten by AIG Asia Pacific Insurance, the insured is covered
for related costs up to S$350,000, and includes emergency evacuation and
repatriation costs if the insured is diagnosed overseas.
Travel cancellation is accepted up to 60 days before departure if the
insured or relative contracts Covid-19 before departure. However,
travel postponement or cancellations due to border closures, government
orders or quarantines are not included in the cover.
One-way travel coverage also differs, including only travel postponement and cancellation.
In contrast, the add-on insurance available through Cathay Pacific
and underwritten by Chubb Insurance Singapore, according to The Business
Times report, expressly states that it continues to exclude all claims
directly or indirectly arising from Covid-19.