Policy Owners' Protection Scheme FAQ

It would be nice if everything just worked the way it is meant to in life. But unfortunately, sometimes there are potholes along the way that we just don’t see coming. We can get insurance for such instances, but what if there is a problem and our insurer falls through too? The Policy Owners’ Protection Scheme (PPF Scheme) was set up to protect policy owners in the case of a default of a life or general insurer. The Singapore Deposit Insurance Corporation (SDIC) administers the PPF Scheme. 

Aviva Singapore is a PPF Scheme member. 

For the list of Aviva Life Insurance Singapore policies, which are covered under the PPF Scheme, click here.

For the list of Aviva General Insurance Singapore policies, which are covered under the PPF Scheme, click here.

For more information on the Policy Owners’ Protection Scheme (PPF Scheme) and on Singapore Deposit Insurance Corporation Limited (SDIC), click here.

To download the PPF consumer guides, click here.

Policyowners Protection Scheme FAQ

What is Policy Owners' Protection Scheme (PPF)?

The Policy Owners' Protection Scheme protects policy owners in the event a life or general insurer which is a PPF Scheme member fails.

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.

Do I need to pay premiums to be covered by Policy Owners' Protection Scheme (PPF)?

No. Coverage is automatic. Levies will be paid by the insurers.

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 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:

  • Personal motor insurance policies
  • Personal travel insurance policies
  • Personal property (contents) insurance policies

How can I make a claim on my personal motor insurance policy if Aviva who is a PPF Scheme member fails?

You can continue to file your claim with your general insurer, who will process your claim accordingly. Once the terms of payment under the claim are finalized, SDIC will pay the finalized claim amount by cheque. If your insurer is going to be wound up. The PPF Scheme will also provide coverage for your policy for a period of 30 days after the winding up order is made against the failed insurer. You should then seek alternative coverage from another insurer within these 30 days.

What will happen to my General Insurance policy if Aviva who is a PPF Scheme member fails?

If your general insurer is going to be wound up, the PPF Scheme will provide coverage for your policy far a period of 30 days after the winding up order is made against the failed insurer. You should then seek alternative coverage from another insurer within these 30 days.

What is my compensation entitlement?

In the event a general insurer which is a PPF Scheme member fails and you have claim to make under an insured policy, you are entitled to the following compensation: 

1. For a compulsory Insurance policy under the Motor Vehicles (third Party Risk and Compensation) Act and Work Injury Compensation Act, the full amount of any liability of the failed PPF Scheme member as provided for under the relevant legislation is payable.

2. For a Singapore policy of specified lines, the full amount of any liability of the failed PPF Scheme member to the insured policy owner under the terms of the insured policy is payable. 

Policy owners will be compensated for claims incurred, up to 30 days after the winding up order is made against the failed insurer. No caps are applicable to general insurance policies.