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SMK lashed over Covid termination
Insurance regulator to block termination of contracts with lump-sump payments
published : 17 Jul 2021 at 06:11 People flock to the Central Plaza Westgate in Nonthaburi on Friday for vaccination. (Photo: Chanat Katanyu)
Thailand s regulator warned Syn Mun Kong Insurance (SMK) on Friday that it cannot arbitrarily terminate Covid-19 insurance contracts with lump-sum payments, threatening legal action or fines if the insurer moves forward with its plan.
The Office of the Insurance Commission (OIC) said it will block the terminations if SMK fails to strictly adhere to all conditions stated in the contracts, according to OIC secretary-general Suthiphon Thaveechaiyagarn.
Dispute about Covid-19 insurances in Thailand - do people get deliberately infected? investvine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investvine.com Daily Mail and Mail on Sunday newspapers.