Singapore insurance associations issue joint statement on coronavirus

The General Insurance Association of Singapore (GIA Singapore) and the Life Insurance Association Singapore (LIA Singapore) have issued a statement clarifying member companies’ coverage for medical expenses relating to the 2019 novel coronavirus (2019-nCoV) outbreak.

This follows an earlier advisory from the GIA. According to the two representative bodies for Singapore insurers, integrated shield plans (IPs) and IP riders will provide coverage for hospitalisation expenses related to 2019-nCoV. Many non-IP individual and group health insurance policies will also provide coverage for medical expenses related to 2019-nCoV.

The insurance associations advised customers who wish to find out more about their insurance benefits and terms and conditions in their policies to approach their financial advisor and/or insurer. Employers with group policies were also urged to review their group policy documents and engage their insurers about the coverage.

“Policyholders should continue to practise good personal hygiene and take precautionary measures as advised by the Ministry of Health (MOH),” the insurance associations said. “Policyholders are encouraged to practice frequent hand washing with soap, and seek medical attention promptly if they are feeling unwell.”

As of February 11, there were a total of 47 confirmed cases of 2019-nCoV in Singapore, according to data from MOH. Meanwhile, 608 cases had tested negative, and nine cases had already been discharged from the hospital. Forty-three (43) cases were pending test results.

Source: Insurance Business Asia