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.
Circulars
Published Date: 01 April 2019
ID 05/19 Deposit Insurance and Policy Owner's Protection Schemes (“DI-PPF”) – (a) Commencement of DI-PPF (Amendment) Act 2018; (b) Issuance of DI-PPF (Policy Owners' Protection) (Maximum Compensation) Regulations 2019; (c) Amendments to Notice DIPOP-N02 (Policy Owners' Protection Scheme Returns)
Sets out the commencement of DI-PPF (Amendment) Act 2018, maximum compensation caps for personal motor cover and personal property, and amendments to Notice DIPOP-N02 for members to consent to MAS sharing information with SDIC.
Policy Owners' Protection Scheme
Applies to:
Direct Insurer (Life)
,
Direct Insurer (General)
,
Direct Insurer (Composite)
View Document
ID 05/19 Deposit Insurance and Policy Owner's Protection Schemes (“DI-PPF”) – (a) Commencement of DI-PPF (Amendment) Act 2018; (b) Issuance of DI-PPF (Policy Owners' Protection) (Maximum Compensation) Regulations 2019; (c) Amendments to Notice DIPOP-N02 (Policy Owners' Protection Scheme Returns)
(83.5 KB)
Resources
DIPOPN02 Policy Owners Protection Scheme Returns
DIPOPN02 Policy Owners Protection Scheme Returns Tracked Change (322.7 KB)
DIPPF Maximum Compensation Regs 2019 (13.3 KB)
Requirements on the submission of Policy Owners' Protection (PPF) Scheme returns by PPF Scheme members.