Deloitte was previously appointed by the Insurance Authority as Taiga Insurance to take over all the affairs and assets of Taiga Insurance. Based on Deloitte's assessment of Taiga's operations and financial conditions, from July 4 this year, Taiga will suspend all operations and assets of Taiga. Arrange for renewal of policies (including taxi and non-taxi policies) that expire in or after August 2022.
Tyga will allow sufficient time before the expiry of these policies to provide written notice to insurance agents and policyholders so that affected policyholders can transfer coverage to other insurers for coverage.
Policies that have not yet expired will continue to be in force until the policy is terminated or expires in accordance with the relevant terms.
Tyga will continue to process claims for all active policies, and policyholders can submit claims to Tyga through existing channels.
For the policy expiring in July 2022, if the policy owner or insurance agent has received a renewal invitation from Taiga and intends to accept it, they can submit the completed renewal notice on or before the expiry date of the original policy , along with other required documents and sufficient premiums, to Taiga for processing, and Taiga will continue to arrange for renewal.
In addition, considering the importance of maintaining taxi and public light bus services, the IA will assist the affected taxi and public light bus insurance policyholders to transfer their insurance to other insurance companies for coverage.
