Next month, Jardine Lloyd Thompson and QBE Insurance Group will launch a rent protection insurance policy aimed at protecting landlords of private homes and HDB flats.
The timing of this first-of-its-kind product in Singapore is perfect given rising instances of early terminations as global economic conditions worsen.
‘This is something you can find in Australia. We talked about offering it here a year ago and it is now ready,’ said Institute of Estate Agents (IEA) president Jeff Foo. ‘From feedback gathered from our members, there are more people breaking their leases early this downturn compared with the previous downturn. Landlords are not really protected.’














