CIMB Singapore unveils pet insurance for dogs and cats

Policy plans start at S$74.90 per year.

CIMB Singapore launched what it claims to be the first pet insurance for domestic dogs and cats with policy plans starting from S$74.90 a year.

In partnership with Sompo Insurance Singapore, CIMB My Paw Pal comprise a basic plan which protects against accidental death, medical expenses due to an accident, cremation or burial expenses due to an accident and third party liability. It also has two optional covers that include loss of dog due to theft, medical expenses, and cremation or burial expenses due to illness.

“The escalating cost of care is a modern day reality especially in the event of illness or accidents. We launched the CIMB My Paw Pal offering in partnership with Sompo Insurance Singapore to help our customers provide the best treatment and care for their pets during these difficult times,” Josandi Thor, head of consumer banking at CIMB, said.

To be eligible for the insurance coverage, the pet has to be between 12 weeks to seven years old, and microchipped, and are registered with the Agri-Food and Veterinary Authority (AVA).