As the country moves towards a regulated scenario for the now accepted e hailing service, the concerns for both passengers and drivers has always been about the insurance. Whereas commercial taxi or cab services are bound under a special insurance scheme offered by most insurance company’s, e hailing drivers are still under the individual insurance program that does not cover if the vehicle is used for commercial purpose. Furthermore the drivers are also liable for legal suits from passengers.

Bank Negara has been working with PIAM the body represented by all the insurance providers to address matter, as the new regulation is being drafted which will soon require all drivers to purchase an additional insurance. A move that further gives a peace of mind and create a safe and secure environment for providers of the service and those using them.

In the mean time MSIG Insurance Bhd has tapped on the need and has launched E-Hail E-Zee, a new motor insurance add-on that is the first in Malaysia to provide e-hailing drivers a policy that can cover in case of an accident.

The add on cover will provide authorised e hailing driver with a loss or damage to vehicle due to accident, fire, theft or loss or damage to third party’s vehicle or property. It also covers death or injury to third-party involved in an accident, legal liability to passengers and accidental death or permanent disablement to the driver.

Unexpected negligent acts which can include, for example, a passenger suddenly opening their door without checking – resulting in an accident, damages or injury to other vehicles or pedestrians can be protected by the policy. Depending on the vehicle’s condition and driver’s NCD, the premium can range between RM0.30 to RM0.70 a day. Currently the two largest providers of the service are Grab and Uber with newer providers slated to enter the market.