Singapore pilots insurance coverage for foreign inbound travellers
The products grant at least $30,000 in coverage for medical treatment.
Foreign visitors will be allowed to buy inbound travel insurance coverage for COVID-related costs incurred in Singapore, the Changi Airport Group (CAG) and the Singapore Tourism Board (STB) announced.
Alongside the General Insurance Association (GIA) of Singapore, the two parties led an expression of interest (EOI) exercise to reach out to interested private sector insurers to provide such coverage.
In response, AIG Asia Pacific, Chubb Insurance Singapore, and HL Assurance have developed travel insurance products which provide at least $30,000 in coverage for COVID-related medical treatment and hospitalisation costs.
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 the virus, or require medical treatment for the virus whilst in the country.
Effective immediately, they will be able to purchase a travel insurance plan to help them cover some of these costs.
Premiums for these inbound travel insurance plans start from $5.35 (inclusive of GST) and can be purchased directly from the insurers through their respective websites.