Private Wealth Services

Private Client Insurance

Accessibility to private wealth information will help you recognise the complexities of your private asset insurance and your life’s priceless assets. It is with time and sentiments invested conscientiously into your valuable assets over the year. Seeking to ensure that your private assets are equally protected is important. 

It is without a doubt, as High Net Worth Individuals (HNWIs), there is a sheer range of assets you have to insure and protect. Primary residences ranging from jewellery, art collectibles to expensive vehicles, as well as any further properties come along with substantial concerns, which is why they require extensive research and solutions to cater to each individual.  

The utmost reason why HWNIs require special insurance is to save a huge amount of time and hassle, which many regular banks have failed to understand each of its own individuals’ deep-rooted lifestyle and needs. Unlike having a private wealth provider, customised solutions will be catered to each valuable asset. 

Private Client Insurance

Personal Collectibles

Personal Collectibles All Risks Policy is designed for art collectors who require specialist insurance for their collections worldwide. With a flexible approach to your individual needs, the insurer is able to offer a bespoke “All Risks” insurance package to safeguard your collection. This includes cover for accidental damage and items temporarily removed from the collector’s premises, depreciation and defective title, pairs and sets, automatic cover for new acquisitions and emergency evacuation of the collection.


Worldwide Cover for Contents

Contents are covered on a worldwide basis, with complimentary transit cover during removal or temporary storage with a high per article limit for your specified and unspecified items.

Worldwide Transit and Temporary Storage Coverage

Your artworks are covered while they are in transit and provide temporary storage at an unspecified location worldwide.

Accidental Damage Coverage

All types of accidental damages to your property are also fully covered.

Automatic Coverage for New Property

Your newly acquired property will be automatically up to 25% of your Total Sum Insured.

Pair, Sets or Parts Cover

If part of a pair or set of fine art items is damaged, you can choose for a Total Loss in return for getting full payment on the pair or set.

Restoration Costs and Depreciation Cover

Coverage for restoration will also be provided and also protect you against depreciation.

Private Client Insurance

Kidnap & Ransom

The K&R insurance is designed to protect individuals and corporations that operate in high-risk areas around the world, with policies mainly including locations like Mexico, Venezuela, Haiti, Afghanistan, Nigeria and many more. Anyone can be insured by K&R insurance such as High Net Worth individuals, Politicians, Government officials, Musicians, National Athletes and so on. Prime targets of a potential scenario are usually wealthy business people and their families, or professionals abroad, tourists, journalists, aid workers as well. Always remember, your assets and jewellery can always be replaced, but not the life of your loved ones.

Insurance coverages as extensions:

  • Business interruption
  • Cyber extortion business interruption
  • Emergency security evacuation
  • Product recall expenses
  • Stalking threat
  • Tiger kidnap

Covered Expenses:

  • Ransom/extortion
  • Kidnap
  • Consulting
  • Judgements, settlements and defense costs
  • Death and dismemberment
  • Personal financial loss, medical, rest and rehabilitation and travel
  • Cyber extortion


  • Products extortion
  • Hijack
  • Wrongful detention
  • Threat
  • Disappearance
  • Express kidnap
  • Hostage crisis
  • Child abduction

Private Client Insurance


Travel insurance is a plan you purchase that protects you from certain financial risks and losses that can occur while traveling. These losses can be minor, like a delayed suitcase, or significant, like a last-minute trip cancellation or a medical emergency overseas. Although there is no perfect travel insurance plan in the world, but there’s always the right insurance for you. It is crucial to consider your insurance needs and match it against the coverage in your travel insurance. This can greatly help to protect you during your trip. We would highly recommend you to pick up the comprehensive travel plan if you are hoping to secure yourself complete during your trip.

What are the different types of travel insurance?

The most common types of travel insurance services provided by trusted insurers are:

Single trip – A short-term plan that covers a specific trip usually commencing from, and returning to, Singapore. It refers to a policy that covers a traveller for a single return trip. This is ideal for those who are not planning to travel frequently in a year.

Annual cover – This plan covers you or whomever you have insured on the plan for a year. It covers trips starting and ending in Singapore. This means you can travel within a region for up to 90 days per trip. However, you might want to check offers with your insurer because price depends on destination. In some cases, insurance coverage for trips in two or more Asian countries is cheaper with single trips compared to annual cover packages.

Individual plan – It covers just you or just one other person. This applies if you are buying the plan for someone else!

Family plan – Travel is more fun with family! This plan covers you, your husband or wife, and your kids. Some providers limit the amount of family members who can be on this plan.

Group Plan – If you are traveling in a group of five people or more, you can consider buying a group travel insurance plan. This provides almost the same benefits as offered in individual plans yet at lower cost.

For most travellers, choosing the type of insurance plan might be a difficult one but knowing your destination and activities that go with the trip can help a lot in deciding.

Does travel insurance cover trip cancellation?

Yes. Most travel insurance plans do cover for trip cancellation. In such cases, travellers can make claims on their trip cancellation under the trip cancellation coverage in the travel insurance policy. However, most insurers will provide a list of covered reasons for trip cancellation for your reference. Therefore, if your reason does not fall under the list of reasons, you might need to proceed with an appeal.

Here’s a sample list of reasons:

  • Sickness, injury, or death of you, a family member, or a traveling companion
  • Hurricane damages your destination or cancels your flight
  • Laid off from work or required to work
  • Terrorist incident in your destination city
  • Bankruptcy of your travel supplier
  • Called for jury duty

The reasons are not limited to this list. This list is for illustration purposes.

What type of traveller am I?

Different travellers might require different coverage for their trips, therefore do make it a point to take into consideration the purpose of your travel before getting your insurance. Here are some common types of travellers:

  1. Individual travellers
  2. Family travellers
  3. Business travellers
  4. Long-term travellers
  5. Adventurers
How do I make a travel Insurance claim?

Making a claim is not as complex as it sounds. Insurers have set clear guidelines for claiming refunds on charges and fees incurred during your travel that are covered by the policy. Remember, a claim is supposed to lighten the burden from baggage loss or cancelled holiday trip. Getting it acknowledged and approved is as helpful as reading the easy steps in claiming your travel insurance company refund below – to ensure you can cancel for any reason: 

  1. Contact your insurer as soon as possible
  2. Fill out the forms to process your claim
  3. Submit your form within the given period
  4. Prepare for appeal if necessary

Private Client Insurance

Premier Client

  • It acts as a protection for your prized items. Your home, as your personal sanctuary is really much more than just a roof over your head. When your wealth grows over time, you may realise that stronger protection is required for your home and other valuables. By stronger protection, it is necessary to access more than the typical off-the-shelf insurance available in the market.
  • With sufficient research and knowledge from experts, you would be well-equipped to support your home insurance needs with tailored coverages. These include protection for your fine homes and valuables such as watches, handbags, jewellery, art and wine collections.

Main Features Coverage


  • Building: Your main residence will be covered. These additions, alterations and other permanent structures include: Guest houses, pool houses, sheds, swimming pools, detached garages, hardscape such as driveways, fountains, underground irrigation systems, decorative pools, terraces, patios, retaining walls, walkways, fencing, gates, and unattached decks at the residence.
  • Additions and Alterations : Generally, a condominium association’s policy does not cover any damages to your interior additions and alterations. However, premier client insurance does cover these for you.
  • Contents: Home contents are definitely more than just your home appliances and furnitures, but also includes other belongings including jewellery and clothings that may be brought along with you overseas. Regardless of where you are, your belongings and home contents can be covered with comprehensive worldwide coverage.
  • Food Spoilage – Up to S$5,000: In case of any interruption of power or mechanical breakdown of your refrigeration units, you are also entitled to up to S$5,000 for food spoilage when you are covered under premier client insurance.
  • Loss Prevention Device – Up to S$2,000: An allowance of S$2,000 following covered loss is provided for you to install an approved loss prevention device to prevent the recurrence of similar losses.
  • Alternate Accommodation (for Family Members and Pets): In order to avoid compromising your living standards, any reasonable costs incurred for alternate accommodation as well as the cost that makes your residence uninhabitable will be covered. For instance, costs incurred to board your pets are under the mentioned reasonable costs.
  • Loss of Rent: To restore your residence back to habitable conditions, the amount of rent you are unable to receive will also be covered by this type of insurance. This is usually the case when your residence is under restoration or renovation before the tenant is back paying the rental fees.
  • Coverage for Loss in Market Value: The insurance company will pay you the full repair cost or restoration in the event of partial loss. A difference up to 25% of the schedule sum insured will be paid instead, if the value diminishes after the repair or restoration. Typical standard home insurance policy does not provide this coverage, which may cause under-protection.
  • Personal Liability : Your legal obligations towards a third party for any personal injury or property damages anywhere in the world will also be covered.
  • Your Liability as Landlord: You will be covered up to the personal liability limit which you are legally liable to pay as the owner of the residence as a result of:
    – loss or damage to the tenant or third party’s property within the residence
    – bodily injury to or death of the tenant or any third party within the residence
  • Your Liability as Tenant – Up to S$100,000 : In the event that you are legally liable to pay to your landlord, the insurance company will cover the damages as a result of loss or damage to the building, additions and alterations or contents belonging to the landlord during your tenancy period.

7 Reasons to Own Premier Client Insurance:

  • Expert Knowledge

    There are specialists who understand fine home and luxury assets, dedicated to handle your claims. They are the ones providing  superior support and assistance with minimal disruption to your lifestyle.

  • Distinctive Coverage for Your Valuables
    Your valuables that are close to your heart should be protected, with worldwide coverage for loss or damage. This way, your mind would be at ease whenever you are away from home.
  • All Risk Coverage
    By “all risk”, there will be a broader coverage and protection against any physical loss or damage to your home, contents and valuables although some specific exclusions may apply in some circumstances.
  • Tailor-made Worldwide Coverage
    There is never a one-size-fits-all solution to protect your home and your valuables. You should, therefore, find coverages that are customised for you to suit your needs.
  • New-For-Old Cover
    In the event that your personal property is damaged, lost or broken, you can be assured that you would not be at disadvantage caused by depreciation upon those claims.
  • Multiple Payment Options
    Any payment method is accepted according to your own financial flexibility. You can choose to pay your premium with credit card, monthly interest-free credit card installments from selected bank partners or cheque.
  • 24/7 Premier Hotline
    At any point of emergency or inquiry, there would always be assistance that is just a dial away dedicated for your needs.
  • Property of Domestic Helper and Guest – Up to 10% of Content Sum Insured Premier client insurance also protects guests at your home and the private staff(s) whom you employ.
  • Pair, Sets, or Units You are free to choose whether to repair, replace or surrender the undamaged item (from a pair, set or unit) and take a cash settlement option.
  • Emergency Access to Residences to Attend to a Medical Emergency – Up to S$2,500: Since forcible entry can damage the door and flooring, the insurance will cover for the costly repairmen expenses of up to $2,500.
  • Lock Replacement – Up to S$2,500: A loss coverage of up to S$2,500 to replace the keys, locks and card keys lost, damaged or stolen at your residence. Any electronic locking device in your car will be covered as well.
  • Valuable Articles: Any loss or damage due to fire, theft or breakage of valuable items will be covered without deductibles anywhere in the world.
  • Scheduled Valuable Articles
    You will also be insured each of your valuables for its actual value. On the other hand, the insurance company will pay the agreed sum insured in the event of a total loss.
  • Unscheduled Valuable Articles: This hassle-free procedure will insure your valuable articles on an unscheduled basis with a per article limit basis. In other words, the insurance company will pay the replacement cost of each item up to the per article limit.

Private Client Insurance

Health Insurance

Museums can take advantage of the bespoke underwriting and a specially-tailored policy which offers comprehensive cover for exhibits both within a museum or when loaned for exhibitions or fairs.

Before you apply:

  1. Stock Inventory Updates

You are required to provide an updated list of your items periodically as agreed.


Museum All Risks Coverage

Loss or damage to exhibits whilst at the premises.

Flexible Coverage

Cover can be extended to exhibits temporarily removed from the premises up to a pre-agreed limit and pre-agreed local or international location.

Exhibition Loan Coverage

Cover can be extended for long or short term loans within the locations declared, up to a pre-agreed limit.

Basis of Loss Settlement

Basis of settlement is the market value immediately prior to loss or damage unless a value has been agreed in writing.

Cover for Art Reference Library

Additional coverage for your art reference library, including books, catalogues and computer media at your premises.

Private Client Insurance


Jewellery speaks to nearly everyone. Necklaces, bracelets, rings, earrings and pins, whether of feathers, ivory, precious metals, alloys or gemstones, are worn with pride. It can convey taste, style or tradition. Each piece reveals its creator’s culture and imagination.

Caring for your jewellery collections:

  • Return your jewellery to a safe storage place after each wearing
  • Bolt down your home safe in a hidden and discreet area
  • Regularly examine the condition of each piece: check for loose settings and worn strings
  • Have any weaknesses or damages repaired
  • Have your high-valued jewellery professionally cleaned
  • Become familiar with industry standards of measurement and evaluations
  • Keep all of your purchase invoices together in one file
  • Whilst travelling:
    • Bring only items you will wear during the trip
    • Never put jewellery in a check-in luggage


  • “All Risks” coverage on a worldwide basis
  • Same insured terms away from home on a worldwide basis
  • Automatic cover for new acquisitions on a worldwide basis
  • Automatic cover for new acquisitions up to 30% of the amount insured
  • Nil Excess on a worldwide basis
  • Specified or Unspecified coverage
  • Specified items are insured on an Agreed Value basis
  • Unspecified items are insured on a Market Value basis
  • Covers cost of restoration as well as depreciation in value after the loss
  • Pairs and sets: Value of the entire pair or set is paid when only part of the pair or set is lost or damaged. Insured’s choice to claim the total loss but surrender the undamaged items to the insurer

Private Client Insurance


Some common questions posted by my boater clients are:

1) Who has the best boat insurance in Singapore?

That depends on what you really want at the end of the day and it usually depends on the values the policy offered or the premium you’re prepared to pay. Your real needs, source for better coverage/ quotes should be identified to help you make a good informed decision.

2) How much is boat insurance?

It could cost a few hundred dollars for a $25,000 sum insured third party liability coverage which is a requirement by the regulator, MPA (Maritime and Port Authority of Singapore). For comprehensive coverage, different factors might swing the premium from less than 1 percent to as much as a few percent of the actual market value of your vessel.

3) Do I need boaters insurance?

It’s a requirement to get your boat covered by a minimum $25,000 sum insured third party liability coverage which is a requirement by the regulator, MPA (Maritime and Port Authority of Singapore). If you hired crew from foreign land to operate your boat, you are required to purchase Work injury compensation insurance and Foreign Workers Medical Insurance, a requirement by the Ministry of Manpower.

4) What does insurance cover on a boat?

It covers damages to your boat, motor, trailer, and personal items in the boat. The aim is to protect the boat owners against any liability lawsuits and medical payments. Boat insurance protects most water crafts with engines including pontoons, yachts, powerboats, houseboats and even small fishing boats.

Tips on Choosing Your Boat Insurance

Some boat owners purchase insurance because it is a compulsory requirement by the Maritime and Port Authority of Singapore (MPA). Most boat owners realise the importance of transferring all their financial risks to the insurer and will choose to purchase a comprehensive boat insurance for their boats.

It is strongly encouraged to buy comprehensive boat insurance based on the agreed fair market value of the boat, rather than on a lower value. This is because the damages covered by your insurer will be compensated to as high as your insured value. For example, if the boat sinks and is beyond economical repair, you may seek an insurance claim for the cost of replacing your boat up to the insured value. It might also include expensive charges like removing the wreck of a sunken boat from the sea bed, if required by the MPA or other government authorities.

Other important factors to look at are the financial strength, the core products and the support of your insurer. You may check out their financial strength ratings by agencies like Standard & Poor’s, Moody’s and Fitch. There are about 38 general insurers in Singapore which offer highly competitive insurance products. It is essential to take into account the strength, not just the insurance premium. Considering who your insurance adviser is and the company behind the adviser is as important too. Investing in a boat is a long term commitment to many, and it is only wise to work with a long term partner who can help you to protect your boat with the right insurance coverage.

There are always two sides to every coin. Knowing the benefits of your insurance policy is only the first step. You should either try to read the insurance contract or seek professional advice from the adviser about the following clauses in the boat insurance contract, namely:

  • Exclusions
  • Liabilities to third parties
  • Excess and deductible
  • Salvage charges
  • Duty of Assured
  • Unrepaired damage
  • Constructive total loss
  • Speedboat clause
  • Cancellation and return of premium,
  • Other exclusions

Another factor many boat/ yacht owners only realise when they start sending their boat/ yacht for repair work is that in Singapore, we don’t have many professional engineers or technicians to service or repair your broken down boat/ yacht, unlike the Europe, USA and Australia. This means that the repair cost will not be as reasonable as what most of us are expecting. The most valuable advice is to talk to the experienced before choosing your next boat/ yacht. Be sure you are covering your crew with the compulsory insurance required under the workers injury compensation act, cover your passengers, as well as your own personal liability.

To sum up, it is important to get the right insurance for your dream boat. Buy it with a reasonable amount of understanding. Buy it through a trusted insurance adviser to ensure your dream stays “well protected”.

Some may say that buying boat/yacht insurance is quite similar to buying motor car insurance but the truth is it is beyond that. When the car stops working, you can easily get someone to tow it back to the car workshop. When you are out at sea, there are also many factors like wind speed, sea current, and the unpredictable sea weathers, especially with the recent terrible climate changes.

Just recently, a less than 1-year-old, nice looking yacht, sank in Singapore water. The yacht owner, having the penny wise and pound foolish mentality, chose not to insure his own expensive yacht to save money. If this can happen in Singapore water which is relatively safe and sheltered, what about our neighbour who has had over 300 of their boats sunk in their water territory. Water territory is not like land territory, where you can be 100% sure that you are in Singapore or out of Singapore.

Also, we are in an infamous water piracy place, known as the Piracy in the Strait of Malacca. Many boat/ yacht owners probably didn’t know that this is not only the world’s top water piracy places – it’s also an ultra long 900km sea lane.

Another factor many boat/ yacht owners only realise when they start sending their boat/ yacht for repair work is that in Singapore, we don’t have many professional engineers or technicians to service or repair your broken down boat/ yacht, unlike the Europe, USA and Australia. This means that the repair cost will not be as low as what most of us are expecting. The most valuable advice is to talk to the experienced before choosing your next boat/ yacht. Be sure you are covering your crew with the compulsory insurance required under the workers injury compensation act, cover your passengers, as well as your own personal liability.


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Private Wealth LLP does not hold itself out to be carrying on any activities which would require them to be so licensed, approved, registered or otherwise regulated (including but not limited to regulated activities under the Securities and Futures Act (Cap.289) and financial advisory services under the Financial Advisors Act(Cap.110) of Singapore).