Finance Ministry to launch National Disaster Insurance for 30M homes

Khaosod•Economy•19d ago

Reader Briefing

The Ministry of Finance plans to implement a National Disaster Insurance system covering 30 million households automatically by 2026.

•The Ministry of Finance will allocate 15,000 million baht annually for premiums to cover 30 million homes.
•The project is expected to start within the year 2026.
•Insurance coverage will reach up to 75,000 million baht, replacing the previous state-funded relief system.
•Claimants can receive a combined maximum compensation of 100,000 baht.

Overview

•The Cabinet has approved in principle the National Disaster Insurance project to replace post-disaster relief.
•The Ministry of Finance and the Office of Insurance Commission (OIC) are discussing details to drive the National Disaster Insurance system.
•The Ministry of Finance will transition from an average annual relief expenditure of 30,000 million baht by the Department of Disaster Prevention and Mitigation to a premium payment of 15,000 million baht.
•The transition to an insurance mechanism aims to move risk from the government to the insurance system to increase the efficiency of the national budget, specifically the central fund.
•The Thai General Insurance Association will act as the insurer and distribute risk to international insurance markets via reinsurance.
•The National Disaster Insurance project is expected to commence within the year 2026.
•Citizens will receive automatic coverage for their homes without needing to register, with claims supported by technology such as satellite imagery.
•Compensation will be split into initial emergency aid and actual damage payments, totaling no more than 100,000 baht per household.

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Key Quotes

Lavaron Sansanit

"The National Disaster Insurance project is seen as a good thing; it takes the risk that the government has borne itself every year, which varies in level."

โครงการประกันภัยพิบัติแห่งชาติมองว่าเป็นเรื่องดี คือเอาความเสี่ยงที่รัฐบาลรับไว้เองทุกปี เสี่ยงมากเสี่ยงน้อยแต่ละปีก็ไม่เท่ากัน

Key Entities

Person

Lavaron Sansanit(ลวรณ แสนสนิท)

Permanent Secretary of the Ministry of Finance.

Organization

Ministry of Finance(กระทรวงการคลัง)ℹ️

The government body allocating budget and coordinating the National Disaster Insurance project.

Office of Insurance Commission(สํานักงานคณะกรรมการกํากับและส่งเสริมการประกอบธุรกิจประกันภัย)ℹ️

An agency collaborating with the Ministry of Finance to drive the National Disaster Insurance system.

Cabinet(คณะรัฐมนตรี)

The body that approved in principle the National Disaster Insurance project.

Department of Disaster Prevention and Mitigation(กรมป้องกัน และบรรเทาสาธารณภัย)

The agency previously burdened with disaster relief payments averaging 30,000 million baht per year.

Thai General Insurance Association(สมาคมประกันวินาศภัยไทย)

The entity that will act as the insurer and manage risk distribution to international markets.

Place

Queen Sirikit National Convention Center(ศูนย์การประชุมแห่งชาติสิริกิติ์)ℹ️

The venue where The Bangkok Business Summit 2026 was held.

Policy

National Disaster Insurance Project(โครงการประกันภัยพิบัติแห่งชาติ)

A government initiative to provide automatic disaster insurance for 30 million households.