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TRAVEL INSURANCE REQUIREMENT
With effect from 1 Jan 2018, the Additional Licensing Condition on the Travel Insurance will be legislated as part of the Travel Agents Regulations. We are required , before receiving any payment, to ask our customers to consider buying Travel Insurance that includes coverage for each traveller in the group against failure or disruption in the provision of the travel product arising out of travel agent insolvency, and inform our customers of one or more insurers from which the customer may purchase such travel insurance.
The requirement is applicable when we receive payment for a travel product that is delivered wholly or partly outside Singapore, and where:
(a) Part payment of $500 or more per traveller; or
(b) The price of the travel product per traveller is $1,000 or more;.
Despite the above, this requirement is not applicable where:
(a) Our customer is purchasing a travel product on behalf of another person registered under the Business Names Registration Act 2014 (Act 29 of 2014) or on behalf of a body corporate (e.g. for corporate travel);
(b) The travel product includes such travel insurance; or
(c) No payment for the travel product is made to us until after the date of departure from Singapore
(d) The customer's acknowledgment that the we has complied with this requirement.
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