Politics
Thai Government Plans National Disaster Insurance Scheme
The Thai General Insurance Association is working with the government to launch a national disaster insurance program covering 30 million households.
According to a report by Prachachat Business, the Thai General Insurance Association is currently coordinating with the government to finalize a new 'National Disaster' insurance scheme. The initiative aims to provide coverage for three specific types of disasters across 30 million households nationwide.
Under the proposed plan, the government intends to subsidize the insurance premiums on behalf of the public, with an allocated budget of 15 billion baht per year. To manage the associated risks, which are estimated at 75 billion baht, the authorities are in the process of selecting 25 insurance companies to participate in the program.
For residents and long-term visitors, this development is significant as it represents a major effort to bolster financial resilience against large-scale environmental or man-made disasters. While the government is moving forward with the selection of participating firms, the specific details regarding the scope of the three covered disasters and the official start date for the policy coverage remain to be confirmed. Stakeholders are currently working to finalize the operational framework before the program officially commences.
