ERGO Insurance (ERGO) in Singapore recently launched TravelProtect, marking its entry into the travel insurance market. The insurance plan is designed with both young and mature travellers in mind and is suitable for both leisure and business travel.
According to ERGO, TravelProtect comprises four plans and medical cover that ranges from SGD 25,000 to 1.5 million (£14,177 to £850,972). The product also covers unexpected cancellations, postponement and travel agent insolvency.
ERGO’s intermediary management and retail head Adam Tang highlighted the importance of travel insurance: “Accidents and unexpected medical costs often weigh in on travellers traveling overseas,” he said. “A sizeable number of Singaporeans still travel without travel insurance even today. We risk facing [a] huge financial burden for seemingly simple medical procedures while overseas. We’ve seen cases where medical bills can be several hundred thousands of dollars when treatment is received overseas.”
He added that ‘travellers can be spared much financial heartache by obtaining an ERGO TravelProtect plan’.