Private-hire drivers, home offices could retain protection if insurer collapses

Singapore

PRIVATE-HIRE car owners who drive for Uber or Grab will be entitled to protection if their insurers collapse, under a proposal that the Monetary Authority of Singapore (MAS) is considering.

That proposal, as well as a cap on what can be paid out to policyholders when their insurers fail, are among a number of possible amendments included in a public consultation by MAS on the Policy Owners' Protection Scheme.