MYANMA Insurance and Malikha Transport Company have reached an agreement to start offering travel insurance this month to foreigners using US dollars.

“Travel and tour companies want to insure their foreign customers in dollars so we arranged this system,” said U Thein Aung, the director of the transport company.

The insurance has been introduced on two boat trips run by the company, with US$2 of the one-way fares for the Mandalay-Bagan ($28) and Sittwe-Taungup ($42) trips going towards traveler’s insurance.

The premium provides $5000 in compensation to the families of any foreigners who die during one of the company’s river trips.

“This is the first time we are selling insurance in dollars. If the system works we will expand the program to other travel companies,” said Dr Maung Maung Thein, the general manager of Myanma Insurance.

In the past, Myanma Insurance has sold insurance for foreigners in local currency and compensation was also paid in kyat.

Meanwhile, the premium for locals traveling on boat trips run by Malikha Transport Company has been raised from K100 to K200.

“We have increased premium for locals starting from this month but the compensation paid has also been raised from K1 million to K2 million,” said U Thein Aung.