SINGAPORE — Foreigners travelling to Singapore can now buy travel insurance to cover Covid-19-related medical costs incurred while they are here.

Three companies — AIG Asia Pacific Insurance, Chubb Insurance Singapore and HL Assurance — have developed plans that will provide at least S$30,000 in coverage for medical treatment and hospitalisation costs related to the coronavirus.

The announcement was made in a joint statement by Changi Airport Group (CAG) and the Singapore Tourism Board (STB) on behalf of the Emerging Stronger Taskforce Alliance for Action on Enabling Safe and Innovative Visitor Experiences on Wednesday (Nov 18). The alliance is one of seven industry-led coalitions working with the Government to quickly execute ideas to support and grow the economy.

For now, 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 Covid-19 or require medical treatment for the coronavirus here.

A minimum of S$30,000 of coverage is recommended by the Ministry of Health based on Covid-19 bill sizes at private hospitals — where inbound travellers typically receive such care, the statement said. 

The plans by AIG and HL Assurance are already available for purchase on their respective websites, while Chubb's will go on sale from Nov 27. Premiums start from S$5.35.

Inbound insurance coverage has been identified as a key enabler to facilitate the resumption of travel to Singapore through rebuilding traveller confidence and providing peace of mind, the statement said.

Mr Lee Seow Hiang, chief executive officer of CAG, said that the group has been “actively engaging” the insurance community since August to develop travel insurance products as Singapore progressively reopens, 

“With the gradual resumption of travel and the reopening of borders, having robust travel insurance options in place is integral to ensuring a successful and sustainable revival of inbound travel to Singapore,” he added.

“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.”

As for outbound travellers, HL Assurance told TODAY that it is working on a product targeted at this group, adding that more details will be released later.

TODAY has reached out to AIG and Chubb for more information on their plans.