Bangkok: The Office of Insurance Commission (OIC) has partnered with the insurance sector to support the southern region, which has been severely impacted by flooding, by ensuring compensation payments are completed within seven days. Mr. Adisorn Pipatworapong, Deputy Secretary-General for Legal Affairs and Audit, spearheaded a meeting with the insurance industry and relevant agencies to establish measures for assisting those affected by the southern flooding.
According to Thai News Agency, the OIC has enacted several measures to address motor insurance claims. Insurance companies are instructed to expedite claim processing to provide timely compensation. For total loss cases, compensation is to be paid within seven days from the receipt of complete documents, covering the full insurance capital as specified in the policy schedule. If the insured opts to handle repairs independently, they will receive repair costs up to 70% of the insurance capital and a proportional return of the remaining premium. Partial loss cases will see expedited inspections and coordination with repair shops to facilitate swift vehicle repairs.
For non-motor insurance in flood or storm-affected areas, as reported by the Department of Disaster Prevention and Mitigation, Ministry of Interior, residential fire insurance policies will offer compensation of 20,000 baht, while fire or property risk insurance policies with flood coverage will provide 30,000 baht, not exceeding the remaining policy coverage. In instances where damages surpass these amounts, the insured must provide supporting documents to claim compensation per policy terms, with insurance companies required to settle claims within three days of receiving complete documentation.
The OIC is collaborating with Mr. Wittaya Chansena, Deputy Governor of Songkhla Province, and Pol. Gen. Samran Nuanma, Deputy Commissioner-General of the Royal Thai Police, to verify insurance coverage for those who perished in the flood. The OIC will obtain names and ID numbers of verified deceased individuals to assess insurance coverage through the Insurance Bureau System (IBS) and expedite claims payments to beneficiaries. Relatives can contact the OIC hotline at 1186, available 24/7, to verify insurance coverage.
The OIC's proactive measures aim to ensure prompt care and compensation for policyholders in flood-affected areas. The commission is committed to overseeing the implementation of these measures, ensuring they alleviate the suffering of affected individuals and demonstrating the OIC's dedication to supporting the public in all circumstances.