Singapore general insurers to end COVID-19 relief measures

The sector-wide financial relief measures will conclude on 31 December 2021.

The General Insurance Association of Singapore announced that the sector-wide COVID-19 financial relief measures will end on 31 December 2021, as planned.

Meanwhile, policyholders currently on the flexible premium installment plans will continue to be supported under the financial relief scheme until their next policy renewal. From 1 January 2022, individuals and SMEs facing financial difficulties as a result of the ongoing COVID-19 pandemic can continue to engage with their respective insurers to discuss suitable alternatives and assistance required.

“Support measures offered by the general insurance sector have enabled many individuals and businesses to benefit from financial relief while maintaining their insurance protection throughout the pandemic. As Singapore transitions towards an endemic phase, we stand ever-ready to support customers in navigating the evolving situation. General insurers remain committed to continuing to play our part to support the nation’s recovery efforts and ensuring insurance remains accessible when people need it most,” said Craig Ellis, president of GIA Singapore.