Ride hailing firm Grab announces insurance launch

Ride hailing firm Grab announces insurance launch | Insurance Business Asia

Ride hailing firm Grab announces insurance launch
Ride-hailing app Grab has announced that it will now extend its group personal accident insurance to riders in Singapore, at no cost.

The cover, extended to GrabHitch riders, covers accidental death and permanent disability as well as medical expenses that are incurred in the event of an accident on social carpool rides.

Currently, GrabHitch drivers are covered through personal motor insurance coverage but the additional cover for passengers includes personal accident benefits for the rider of up to US$15,000 for accidental death and permanent disability or up to an aggregate limit of US$50,000 per accident in Singapore.

Almost 90% of social carpool rides in Singapore are made through the GrabHitch platform, which operates across the Asia Pacific region.

Lim Kell Jay, head of Grab Singapore, said that the firm has unveiled the extension to help clear-up any confusion around coverage.

“Personal car owners who are part of the GrabHitch movement have varying levels of personal motor insurance policies,” Jay said. “By providing free group personal accident insurance to riders, we eliminate any uncertainties that they might have about insurance coverage on social carpool rides.”

Ride sharing and hailing apps such as Grab and Uber have been in the spotlight in the regional insurance market over the last several weeks. In Malaysia, they have been accused of insurance fraud, while 21 Uber drivers in Hong Kong were recently arrested for driving without third party insurance.


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