"In the event that your Tiger Airways flight is cancelled we will reschedule you free of charge to the next available Tiger Airways flight.
Tiger Airways does not compensate, reimburse or provide tickets for travel on other airlines and takes no responsibility whatsoever should a cancellation cause you to misconnect to another flight.
If your flight is rescheduled before the date of travel, so as to depart more than four hours before or after the original departure time then you will be entitled to a travel credit or full refund of the unused part of your reservation if the alternative flight/s offered are not acceptable to you and you do not wish to travel. Providing you notify Tiger Airways more than 4 hours prior to the Scheduled Departure Time of your flight.
Tiger Airways does not provide meal vouchers or hotel accommodation for flights which are delayed or cancelled. We recommend that all passengers ensure that they have suitable private travel insurance cover in force to cover such eventualities."
"Trip Cancellation & Interruption
Tiger Purrtection Travel Insurance Policy will pay you back the non-refundable portion of your Tiger Airways fare if you need to cancel or cut your trip short due to valid insurable reasons such as death, injury or serious sickness in the family.
Tiger Flight Delay
Tiger Purrtection Travel Insurance Policy will provide you with financial compensation for time lost due to a Tiger Airways flight delay up to a given period."
My reading of the Tiger Travel Insurance Policy cannot see anything specific about what happens if Tiger cancels the flight, or delays the flight overnight. The Cancellation Policy is there in case YOU cancel the trip. In any case, if they do cover a plane cancellation, you have to fill in a claim form and get the money back from the insurance company. If you have spent all your holiday money you will be borrowing from a friend.