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OIC issues waivers for firms reeling from Covid claims
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Regulator stymies Asia Insurance
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Regulator orders Asia Insurance to stop issuing non-life policies
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OIC unmoved by soaring Covid claims
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Insurers brace for rise in Covid claims
published : 26 Jul 2021 at 04:30
However, the overall impact may not be severe because of a decline in car insurance claims.
The accumulated value of claims from Covid-19 insurance policies from Jan 1 to July 15 this year stood at 2.50 billion baht, accounting for about 50% of the total premiums received or 5.1 billion baht, according to the Office of the Insurance Commission.
In the first 15 days of July, the number of new Covid-19 insurance policies issued soared to 3.41 million, with total premiums worth 204 million baht, as more people became concerned about the pandemic. The number of new cases has exceeded 10,000 for several days and continues to reach new highs as insurance companies try to manage risk by adjusting Covid protection packages and prices.