07.01.19
Concerned of the sufferer from the “Pabuk” tropical storm that hit the south and damaged in many areas, especially Mueang District And Pak Phanang District of Nakhon Sri Thammarat, Dr. Suthiphon Thaveechaiyagarn, the OIC’s Secretary-General had the Office of Insurance Commission organized an urgent meeting via video conference with the Thai Life Assurance Association, Thai General Insurance Association, Thai Association of insurance and Financial Advisors and the Thai Insurance Broker Association together with the 9th OIC regional offices. The meeting was purposed to jointly issue the after storm recovery measures and information hearing from the area and brainstorming. The meeting has set 6 recovery measures as follows.
Firstly, assign the 8th and 9th OIC regional offices and the Nakhon Si Thammarat provincial office together with the insurers in the area to expedite the damage survey for prompt compensation paid. It included the crop damage to in-season rice cultivation areas.
Secondly, extend the renewal application filing period for the renewed license of the life and non-life insurance agents and brokers. The OIC announced to extend the application not more than 15 days from the expiry date, but not later than June 30, 2019.
Thirdly, extend the insurance life insurance premiums payment period during January 3, 2019, to March 3, 2019, or for 60 days extension, in the event that the life insurance policy expired. If the insured wishes to renew or reinstate the policy within six months, the company have to waive the physical health check and exclude interest collection during that time. The ordinance issued from the registrar shall be proceeding soon.
The fourth, apply the flooded car and property in adherence with the guidelines for paying insured car claims repair in the same way for the flooded vehicles in 2011.
The fifth, speed up the insurance process by integrating with the Thai Bankers Association to be the alternative of buying insured and paying premium through the banks’ debit cards Or a credit card.
The sixth, reinstate with CSR concept by assigning the 8th and 9th OIC regional offices to explore the suffered people needs in areas who lack consumer goods. The Office of Insurance Commission, led by the Secretary-General will join with the insurance business sector in the area to exercise the Big Cleaning and organize caravans to assist in the target areas on January 9, 2019.
Besides, the Registrar has signed the OIC’s Announcement concerning the extension of the license renewal application filing period for the insurance agent and broker, and the registrar's order, subject: the waiver of the life insurance policy for the affected area , based on the second and third respectively, which have been issued on January 7, 2019 already.
"The Office of the OIC and the insurance sector concerns for the people and the insured who are affected by the Pabuk storm. Therefore, be realized of the insurance important as a tool for life and property risk management. By checking what types and numbers of insurance one have will allow the insurance system to remedy the losses occurred. Any doubt can be queried for more information from the OIC, at the hotline No: 1186," the Secretary-General of the OIC mentioned finally.