Policy Owner’s Protection


The Policy Owners’ Protection Scheme (PPF Scheme) protects policy owners in the event of a general insurer, which is a PPF member, fails.

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).

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.

What are the types of general insurance policies covered under the PPF Scheme?

All compulsory insurance policies under the Motor Vehicles - (Third Party Risks and Compensation) Act and Work Injury Compensation Act (WICA) and Singapore policies of specified lines issued by registered general insurers which are PPF Scheme members are covered. A Singapore policy insures risks arising in Singapore or where the insured is a Singapore resident or has a permanent establishment in Singapore.

The specified lines covered are:

What types of general insurance policies are not covered under the PPF Scheme?

General insurance policies that are not within the specified lines are not covered.

Examples are:

What does a Policy holder need to do be part of the PPF?

Nothing. Coverage is automatic and there are no charges. Levies will be paid by the Insurance companies (PPF Scheme members). Policy documents of General Insurance products will clearly disclose which products are covered under the PPF.

Who is in charge of the Policy Owners’ Protection Scheme?

The Singapore Deposit Insurance Corporation (SDIC) administers the Policy Owners’ Protection Scheme in Singapore. SDIC is a company limited by guarantee under the Companies Act. The board of directors is accountable to the Minister in charge of the MAS.

To download Consumer Guides click here.

To download Frequently Asked Questions (FAQs) click here.

For more information on the PPF Scheme, please visit the GIA or SDIC websites: www.gia.org.sg or www.sdic.org.sg.