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Introduction
The Policy Owners’ Protection (PPF) Scheme is an additional safety net that protects the interests of general insurance policy holders in the event a general insurer fails. The PPF Scheme is administered by the Singapore Deposit Insurance Corporation (SDIC). All General Insurance companies are regulated entities in Singapore. The PPF Scheme provides added assurance that there is a compensation scheme for policy owners to reduce the financial impact on individuals in the event an insurer defaults. Experience in other countries has shown that consumers are less likely to panic if and when things go wrong, if there is a mechanism in place to guarantee the safety of insurance policies. The PPF Scheme provides 100% coverage for the types of general insurance policies covered under the Scheme. No caps are applicable for protection of your general insurance policies. All insurers registered by the Monetary Authority of Singapore (MAS) to carry out direct general business (other than captive insurer or specialist insurers) are members of the Policy Owners’ Protection Scheme (PPF Scheme members). We think and look ahead on behalf of our policyholders, and play an integral role in helping people live safer, more secure lives.
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What are the types of general insurance policies covered under the PPF scheme?
The Policy Owners’ Protection (PPF) Scheme is an additional safety net that protects the interests of general insurance policy holders in the event a general insurer fails. The PPF Scheme is administered by the Singapore Deposit Insurance Corporation (SDIC). All General Insurance companies are regulated entities in Singapore. The PPF Scheme provides added assurance that there is a compensation scheme for policy owners to reduce the financial impact on individuals in the event an insurer defaults. Experience in other countries has shown that consumers are less likely to panic if and when things go wrong, if there is a mechanism in place to guarantee the safety of insurance policies. The PPF Scheme provides 100% coverage for the types of general insurance policies covered under the Scheme. No caps are applicable for protection of your general insurance policies. All insurers registered by the Monetary Authority of Singapore (MAS) to carry out direct general business (other than captive insurer or specialist insurers) are members of the Policy Owners’ Protection Scheme (PPF Scheme members). We think and look ahead on behalf of our policyholders, and play an integral role in helping people live safer, more secure lives.
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What types of general insurance policies are not covered under the PPF scheme?
The Policy Owners’ Protection (PPF) Scheme is an additional safety net that protects the interests of general insurance policy holders in the event a general insurer fails. The PPF Scheme is administered by the Singapore Deposit Insurance Corporation (SDIC). All General Insurance companies are regulated entities in Singapore. The PPF Scheme provides added assurance that there is a compensation scheme for policy owners to reduce the financial impact on individuals in the event an insurer defaults. Experience in other countries has shown that consumers are less likely to panic if and when things go wrong, if there is a mechanism in place to guarantee the safety of insurance policies. The PPF Scheme provides 100% coverage for the types of general insurance policies covered under the Scheme. No caps are applicable for protection of your general insurance policies. All insurers registered by the Monetary Authority of Singapore (MAS) to carry out direct general business (other than captive insurer or specialist insurers) are members of the Policy Owners’ Protection Scheme (PPF Scheme members). We think and look ahead on behalf of our policyholders, and play an integral role in helping people live safer, more secure lives.