MSIG Malaysia launches insurance add-on for ride-sharing drivers

Supplementary policy to address gaps not covered by standard motor insurance

MSIG Malaysia launches insurance add-on for ride-sharing drivers

Insurance News

By Gabriel Olano

MSIG Insurance Malaysia has introduced a motor insurance add-on tailored to drivers of ride-hailing services such as Uber and Grab.

The new policy add-on, called E-Hail E-Zee, is the first of its kind in the Malaysian market. It was developed after consultation with Bank Negara Malaysia and the General Insurance Association of Malaysia (PIAM).

E-Hail E-Zee has been developed as a supplement to the standard comprehensive motor insurance policy, which is not compatible with ride-hailing.

The add-on seeks to address gaps between driving a car privately and driving for ride-hailing. It covers legal liability of passengers, which includes negligent acts by passengers beyond the control of the driver, such as recklessly opening the vehicle’s door and causing an accident.

According to Chua Seck Guan, chief executive of MSIG Malaysia, new laws requiring ride-hailing drivers to purchase specialised insurance are likely to be passed in the future – and he assured consumers that E-Hail E-Zee is compatible with such incoming regulations.

The premium for E-Hail E-Zee is risk-based and depends on several factors, including the vehicle’s sum insured and the policyholder’s details, a company statement said.

Related stories:
Malaysia passes regulation governing Uber, Grab
Ride hailing firm Grab announces insurance launch
Taxi drivers’ group accuses Uber, Grab drivers of insurance fraud

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