Cabinet Proposes 10 Billion Baht Disaster Insurance Project

Prachachat•Politics•21d ago

Reader Briefing

The Department of Disaster Prevention and Mitigation and the Ministry of Finance propose a 10 billion baht disaster insurance project for 20 million households.

•The project is being proposed during a Cabinet mobile meeting in Songkhla Province.
•The proposed budget is 10,000 million baht from the central budget's emergency reserve fund.
•The insurance covers deaths with 2 million baht and home damage with 200,000 baht.
•The target is to provide basic coverage for approximately 20 million households nationwide.

Overview

•A Cabinet mobile meeting was held in Songkhla Province.
•The Department of Disaster Prevention and Mitigation, Ministry of Finance, Office of Insurance Commission, and Thai General Insurance Association are preparing to propose a disaster insurance project.
•The disaster insurance project aims to provide basic coverage for approximately 20 million households across the country.
•The proposed budget for the project is 10,000 million baht.
•The budget is requested from the central budget under the emergency or necessary reserve fund item.
•The insurance covers risks from disasters, including floods, windstorms, and earthquakes.
•The proposed coverage provides 2 million baht for death and 200,000 baht for damaged houses.

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Key Entities

Organization

Cabinet(ครม.)

The body holding a mobile meeting in Songkhla Province to consider the disaster insurance proposal.

Department of Disaster Prevention and Mitigation(กรมป้องกันและบรรเทาสาธารณภัย)

An agency collaborating with the Ministry of Finance and other bodies to propose the disaster insurance project.

Ministry of Finance(กระทรวงการคลัง)ℹ️

A ministry collaborating to propose the disaster insurance project.

Office of Insurance Commission(สำนักงานคณะกรรมการกำกับและส่งเสริมการประกอบธุรกิจประกันภัย)ℹ️

An agency collaborating to propose the disaster insurance project.

Thai General Insurance Association(สมาคมประกันวินาศภัยไทย)

An association collaborating to propose the disaster insurance project.

Place

Songkhla(สงขลา)ℹ️

The province where the Cabinet mobile meeting took place.

Policy

Disaster Insurance Project(โครงการประกันภัยพิบัติ)

A proposed initiative to provide basic disaster coverage for 20 million households with a 10 billion baht budget.