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

MAS consults on changes to Policy Owners' Protection Scheme

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Published Tue, Apr 18, 2017 · 09:50 PM

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    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.

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