Cabinet approves national disaster insurance scheme covering 30 million households, starting October 1

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โดย ทันหุ้น·TH·Read original
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The Cabinet has approved the establishment of a national disaster insurance system, as proposed by the Ministry of Interior through the Department of Disaster Prevention and Mitigation, to shift disaster management from post-event relief toward advance risk management and transfer through an insurance system. Operations will begin on October 1. Ekkaphop Pienpiset, spokesperson for the Prime Minister's Office, said the system allows the state to determine in advance which risks it will retain and which will be distributed or transferred to the insurance system, helping reduce uncertainty in the budget burden and giving the public faster access to compensation. For residential coverage, the scheme will cover approximately 30 million households, based on housing statistics from the Bureau of Registration Administration under the Department of Provincial Administration as of September 10. It covers damage from floods, windstorms, and earthquakes, with maximum coverage of 100,000 baht per household per event. For floods, the initial compensation is 10,000 baht, with additional compensation of up to 90,000 baht per event. For windstorms and earthquakes, the initial compensation is 5,000 baht, with additional compensation of up to 95,000 baht per event. The scheme also provides coverage of 2 million baht per person in the event of death from such disasters. The Cabinet assigned the Bureau of the Budget to allocate budget funds in line with the specified framework and objectives, while the Office of the Insurance Commission, together with the Thai General Insurance Association, will procure insurers that are standard-compliant, stable, reliable, and fair. The Department of Disaster Prevention and Mitigation will serve as the budget-receiving unit and disburse funds to insurers in accordance with the prescribed criteria.

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