Fee Protection Insurance Policy (IWC)

Industry-Wide Course Fees Protection Insurance (IWC) is a scheme that PEIs can subscribe to with a SSG Appointed Industry Wide Coverage Service Provider to protect course fees that students have paid if the PEI is unable to continue operations.

PEIs that subscribe to the IWC are allowed to collect up to six months of course fees at any one time. PEIs that do not subscribe to the IWC fee insurance scheme are allowed to collect up to two months of course fees from students at any one time.

Lonpac Insurance Bhd is one of the CPE appointed insurance providers. Chasewells Management College has in place an Industry-wide Course Fee Protection Insurance Policy (IWC) to protect the paid fees of students residing in Singapore, renewable on an annual basis. The IWC serves to protect the student’s fees in the event that the PEI is unable to continue operations due to insolvency, and/or regulatory closure.

In addition, the IWC protects the student if the PEI fails to pay penalties or return fees to the student arising from judgments made against it by the Singapore courts. Chasewells Management College have appointed Lonpac Insurance Bhd as our IWC insurance provider.

Under the IWC insurance scheme, students’ fees are insured by Lonpac Insurance Bhd. In case of events as stated above, students will be able to claim their paid fees from Lonpac Insurance Bhd. A copy of the insurance certificate is available here.