Bangkok:First paragraph of the news story.
According to Thai News Agency, Assistant Professor Wanwichit Boonproong from the Faculty of Political Science at Rangsit University has commended the government's decision to establish a national disaster insurance system. He emphasizes that while complete prevention of floods is unattainable, the insurance initiative aims to enhance compensation measures, ensuring timely support for affected individuals.
Wanwichit highlights the necessity of a proactive approach, advocating for preventative measures, effective warning systems, and a robust recovery mechanism. He points out that previous disaster relief efforts were predominantly reactive, relying on government budgets post-disaster. By having an insurance system in place, citizens would benefit from quicker compensation access, allowing the government to manage risks more efficiently.
He further explains that the policy's significance lies not in preventing floods but in ensuring adequate care for citizens during such disasters. This includes emergency assistance, compensation, and livelihood restoration after floods.
The National Disaster Insurance System is set to commence on October 1, 2026, providing initial compensation of 10,000 baht per household in the event of flooding. Additional compensation, up to a maximum of 100,000 baht per household per incident, is possible based on the extent of damage and compliance with specific conditions.