Policy Owners' Protection Scheme

Policy Owners' Protection Scheme

Your interests as a policyholder

The Policy Owners’ Protection (PPF) Scheme is an additional safety net that protects the interests of general insurance policyholders in the event a general insurer fails. The PPF Scheme is administered by the Singapore Deposit Insurance Corporation (SDIC).

Coverage for general insurance policies is not subject to any caps (except for the limits specified under the law for compulsory insurance policies and for own property damage motor claims under personal motor insurance policies and property damage claims under personal property (structure and contents) insurance policies).

All insurers registered by the Monetary Authority of Singapore (MAS) to carry out direct general business (other than the captive insurer or specialist insurers) are members of the Policy Owners’ Protection Scheme (PPF Scheme members).

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

The PPF Scheme protects all compulsory insurance policies under the Motor Vehicles (Third Party Risks and Compensation) Act and Work Injury Compensation Act and short-term accident and health (A&H) policies issued by PPF Scheme members. The PPF Scheme also covers policies of specified personal lines issued to individuals only by PPF Scheme members where the risks arise in Singapore or the policy owner is resident in Singapore. The types of specified personal lines covered are:

  • Personal motor insurance policies

  • Personal travel insurance policies

  • Personal property (structure and contents) insurance policies

  • Foreign domestic maid insurance policies

What does a policyholder need to do to be part of the PPF?
Nothing. Coverage is automatic and there are no charges. Marketing collateral and policy documents of general insurance products will clearly disclose which products are covered under the PPF.

Who is in charge of the PPF?
The Singapore Deposit Insurance Corporation (SDIC) administers the PPF Scheme in Singapore. The SDIC Board is accountable to the Minister in charge of the MAS.

For more information on the PPF Scheme, please contact your insurer or visit Singapore Deposit Insurance Corporation.

For Liberty's register of types of insured policies that are covered under the PPF Scheme, please refer to List of Insured Policies Covered Under PPF Scheme