Disaster insurance to be offered on 20 February

Published on February 13, 2012 by TFP   ·   1 Comment

BANGKOK, 13 February 2012 – The Finance Ministry is prepared to offer disaster insurance, covering flooding, fire, as well as earthquake and tsunami incidents.

Permanent secretary for finance Areepong Bhoocha-oom has announced that the disaster insurance will be on offer from 20 February onwards. He explains that for the general public, the insurance coverage amount is limited to 100,000 baht, but if anyone wants more coverage he/she must pay extra premiums for the added protection.

For SMEs, the insurance policy will cover up to 20 percent of the amount insured but not over 10 million baht. As for large businesses, the policy will cover 20 percent of the amount insured but not over 200 million baht.

The insurance premium will be determined by how susceptible to the disaster the area is.

(NNT : Nuttaporn Chanchokpong)


Readers Comments (1)
  1. LOS says:

    The government should not be in this business. Private companies can go bankrupt. Governments can’t. And when governments have to pay, it means taxpayers have to pay.

    Let’s go on record, right here and right now: A disaster will come which exceeds the governments capacity to cover. The taxpayers will end up footing the bill. And we will hear excuses like: No one could have seen this coming.

    Well. We did see it coming.

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