Thai Government to Provide Disaster Insurance for 30M Households

Prachachat•Politics•13d ago

Reader Briefing

The Cabinet has approved the National Disaster Insurance system to provide coverage for 30 million households against floods, windstorms, and earthquakes.

•The Cabinet approved the National Disaster Insurance system to shift from reactive remedy to proactive risk management.
•Coverage extends to approximately 30 million households for floods, windstorms, and earthquakes.
•Compensation includes up to 100,000 baht for property damage and 2 million baht for death.
•The Department of Disaster Prevention and Mitigation and the OIC are tasked with implementing the system.

Overview

•The Cabinet approved the principle of establishing a National Disaster Insurance system.
•The government intends to purchase insurance coverage for approximately 30 million households.
•Coverage is limited to three types of disasters: floods, windstorms, and earthquakes.
•Property damage compensation is set at 10,000 baht per instance for floods, and 5,000 baht for windstorms or earthquakes, with a total maximum of 100,000 baht per household.
•A benefit of 2,000,000 baht per person is designated for deaths resulting from covered disasters.
•The National Disaster Insurance system aims to provide faster access to compensation and higher limits than previous remedy systems.
•The Department of Disaster Prevention and Mitigation and the Office of Insurance Commission are to complete the system setup quickly.
•Relevant agencies must study the cancellation or amendment of existing laws to prevent overlap with existing aid measures.

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Source: Prachachat (Original)

Key Entities

Person

Anutin(อนุทิน)ℹ️

The individual mentioned as greenlighting the disaster insurance for 30 million households.

Ratchada Thanadirek(รัชดา ธนาดิเรก)

The Spokesperson for the Prime Minister's Office who revealed the Cabinet's approval of the insurance system.

Organization

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 accelerate the implementation of the National Disaster Insurance system.

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

The agency assigned by the Cabinet to accelerate the implementation of the National Disaster Insurance system.

Policy

National Disaster Insurance System(ระบบประกันภัยพิบัติแห่งชาติ)

A government-funded insurance scheme covering 30 million households against floods, windstorms, and earthquakes.