Safety
Thai Cabinet Proposes 10 Billion Baht Disaster Insurance Scheme
The Thai government has proposed a new 10 billion baht disaster insurance fund to provide financial support for victims of floods, storms, and earthquakes.
During a mobile cabinet meeting held in Songkhla, the Ministry of Finance and the Department of Disaster Prevention and Mitigation (DDPM) introduced a proposal for a 10 billion baht disaster insurance scheme. According to Prachachat Business, this initiative aims to provide financial relief to individuals affected by natural disasters, including floods, windstorms, and earthquakes.
Under the proposed framework, the insurance coverage would offer up to 2 million baht in compensation for loss of life and up to 200,000 baht for structural damage to homes. This proposal is intended to bolster the national safety net against increasingly frequent climate-related events.
For residents and long-term visitors, this development is significant as it signals a government effort to formalize financial recovery mechanisms for disaster victims. However, it is important to note that this is currently a proposal presented during a cabinet meeting. Specific details regarding eligibility, the implementation timeline, premium structures, and whether the coverage will extend to foreign residents or tourists remain to be confirmed. As the policy moves through the legislative process, further official announcements will be necessary to clarify how these protections will be administered.