Private Education Institution As a Private Education Institution (PEI) in Singapore, implementing schemes to protect students and their course fees helps establish your institution as a reliable and high-quality choice for prospective students.
What insurance does a PEI need?
The Committee for Private Education (CPE) mandates two key schemes to protect student course fees if a PEI is unable to operate. Additionally, PEIs must provide hospitalization insurance for students to be eligible for the EduTrust certification, which marks institutions that maintain high standards of education and continuously improve student outcomes.
Industry-Wide Course Fee Protection Scheme (IWC): Required under the Enhanced Registration Framework (ERF), IWC covers student course fees in case of a PEI’s insolvency, regulatory closure, or failure to pay court-awarded sums, up to $2 million per event.
Fee Protection Scheme (FPS): Essential for EduTrust certification, FPS ensures all student course fees are safeguarded. We can assist in setting up FPS with a CPE-approved insurer.
Hospitalisation Insurance for Students: EduTrust certification also encourages a hospitalization policy to cover students if they need medical treatment while studying in Singapore. We offer competitively priced student medical insurance.
Comprehensive Insurance Services for PEIs
With two decades of experience, our specialist team provides a complete range of regulatory and general insurance services for PEIs, including:
- Industry-Wide Course Fee Insurance (IWC)
- Fee Protection Scheme (FPS) for EduTrust
- Group Hospitalisation and Surgical (GHS) and Outpatient Insurance for Students (including COVID-19 coverage)
- Banker’s Guarantee for Foreign Students
- General Insurance Services like Educator’s Professional Indemnity Insurance
Our expertise allows us to advise on best practices to help PEIs maintain their EduTrust status.
