Cabinet Approves National Disaster Insurance for 30M Households

MGR Online•Politics•19d ago

Reader Briefing

The Cabinet has approved the National Disaster Insurance system to provide proactive risk coverage for approximately 30 million households.

•The Cabinet approved the principle of the National Disaster Insurance system on September 1.
•The policy covers three types of disasters: floods, windstorms, and earthquakes.
•Coverage extends to approximately 30 million households with the state supporting insurance premiums.
•The system provides faster payouts and higher compensation limits than previous remedy systems.

•On September 1, Ratchada Thanadirek announced that the Cabinet approved the National Disaster Insurance system.
•The state will purchase insurance for approximately 30 million households covering floods, windstorms, and earthquakes.
•The policy shifts disaster management from reacting to events to preparing risk-support systems in advance.
•Flood victims will receive an initial payment of 10,000 baht per occurrence per household.
•Windstorm or earthquake victims will receive an initial payment of 5,000 baht per occurrence per household within 15 days, with total compensation up to 100,000 baht.
•A benefit of 2,000,000 baht per person will be paid in the event of death from covered disasters.
•The Department of Disaster Prevention and Mitigation and the Office of Insurance Commission (OIC) are tasked with implementing the system quickly.
•Relevant agencies will study the repeal or amendment of existing laws to prevent overlap with existing aid measures.

Full article content is available on the original source.

Cabinet(ครม.)

The government body that approved the principle of the National Disaster Insurance system.

Department of Disaster Prevention and Mitigation(กรมป้องกันและบรรเทาสาธารณภัย)

The agency assigned by the Cabinet to urgently implement the National Disaster Insurance system.

Office of Insurance Commission (OIC)(สำนักงานคณะกรรมการกำกับและส่งเสริมการประกอบธุรกิจประกันภัย (คปภ.))

The agency assigned by the Cabinet to urgently implement the National Disaster Insurance system.

Ratchada Thanadirek(รัชดา ธนาดิเรก)

The Spokesperson for the Prime Minister's Office who announced the Cabinet's approval.

National Disaster Insurance System(ระบบประกันภัยพิบัติแห่งชาติ)

A proactive disaster management system providing insurance for floods, windstorms, and earthquakes for 30 million households.