SINGAPORE, 31 March 2020 – The General Insurance Association (“the Association”) of Singapore today announced additional measures by the general insurance sector to support customers during the Coronavirus Disease 2019 (COVID-19) pandemic.
Our hearts and thoughts go out to those affected by the COVID-19 outbreak. We greatly appreciate the dedication of healthcare workers and all of the people on the frontline, working hard to contain the virus and keeping Singaporeans safe and well.
The health and safety of customers remain a top priority. General insurers are committed to ensuring that the general insurance sector responds swiftly to evolving protection needs and continue to service customers safely during this challenging period.
Measures to support customers
- Some individual and corporate customers are now facing financial challenges brought about by the impact of COVID-19 and have difficulty making premium payments. The members of the Association will work with impacted customers to review the financial difficulties and impact in each case, and to consider suitable instalment payment plans or other options to reduce insurance cover.
- Some insurers may offer customers flexibility in paying their insurance premiums using their credit cards, which includes installment payment plans.
- General insurers are servicing customers electronically or through contact centres in order to minimise face-to-face interactions. Customers are encouraged to leverage these in accordance with the latest guidelines from the authorities on the implementation of safe distancing measures.
Customers should approach their respective insurer for details on these support measures.
The Association will continue to review these initiatives as the situation unfolds to ensure customers continue to be supported and serviced through this time.
In times of crisis, general insurers have played the important role of providing financial capital to customers for insured losses, enabling customers to rebuild their lives and businesses after fires, disasters and accidents, paying for liability claims, and more. Like challenges of the past, we will get through this together and emerge stronger.
