Regulatory Alerts2019-04-01
Added
ID 05/19 Deposit Insurance and Policy Owner's Protection Schemes Commencement and Amendments
The Monetary Authority of Singapore issued this circular to announce the commencement of the DI-PPF (Amendment) Act 2018 and the issuance of the DI-PPF (Policy Owners' Protection) (Maximum Compensation) Regulations 2019. The document establishes maximum compensation caps for personal motor cover and personal property under the Policy Owners' Protection Scheme. It also amends Notice DIPOP-N02 to require PPF Scheme members to consent to the MAS sharing information with the Singapore Deposit Insurance Corporation.
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