Slide Insurance Expands Coastal Property Coverage in South Carolina

Paradorn Prisananantakul, Minister Attached to the Prime Minister's Office, confirmed that the government still has sufficient central budget remaining to care for and compensate the public during the flood crisis, before the national disaster insurance system takes effect on October 1, 2026. This follows the Cabinet's approval of the national disaster insurance programme, authorising the purchase of a group residential insurance policy covering more than 30 million households with a sum insured of 15.5 billion baht. The Office of the Insurance Commission is rushing to sign the policy so it can take effect in time. For the remainder of fiscal year 2026 before October 1, the government remains responsible for 100% of relief for disaster victims, with the government paying the operating amount to insurance companies in two instalments: the first in fiscal year 2026 at 10 billion baht, and the second in fiscal year 2027 at about 5 billion baht. From October 1, 2026, it becomes the insurance companies' duty to provide compensation, with a total of 100,000 baht per household, divided into immediate assistance of 10,000 baht within seven days once a province is declared a flood area, and payment based on actual damage of a further 90,000 baht per household once the water recedes. As for agricultural areas, that is the responsibility of the Ministry of Agriculture and Cooperatives, which already has its own relief criteria.

The Cabinet has approved the allocation of budget for a disaster insurance programme for the public, with a total of 15.5 billion baht, as proposed by the Ministry of Interior. Lalida Periswiwattana, deputy spokesperson for the Prime Minister's Office, disclosed on 22 September 2026 that the programme covers damage to housing and deaths from floods, storms and earthquakes. The policies provide coverage from 1 October 2026 to 1 October 2027. Of the 15.5 billion baht, 15 billion baht is for group residential insurance premiums and 500 million baht for group accident insurance premiums. The funding uses 10 billion baht from the central reserve for emergency or necessary expenses under the fiscal year 2026 annual expenditure budget, with the remaining 5.5 billion baht drawn from the following year's budget, along with approval to incur binding obligations. The programme will provide coverage for approximately 30 million homes, based on housing data from the Bureau of Registration Administration, Department of Provincial Administration, as of 10 September 2026. The Office of the Insurance Commission, together with the Thai General Insurance Association, will procure qualified insurers, while the Ministry of Interior and the Department of Disaster Prevention and Mitigation must verify that assistance provided through the policies does not overlap with other forms of government relief measures.

The Cabinet has approved a budget of 15.5 billion baht for a disaster insurance programme for the public, comprising 15 billion baht for group residential insurance premiums and 500 million baht for group accident insurance premiums. Lalida Periswiwatana, deputy spokesperson for the Prime Minister's Office, said the programme will provide coverage for approximately 30 million homes, based on housing data from the Bureau of Registration Administration under the Department of Provincial Administration as of 10 September 2026, as well as coverage for deaths caused by floods, storms and earthquakes, through a catastrophe risk transfer mechanism. It takes effect from 1 October 2026 to 1 October 2027. Of the budget, the Ministry of Interior will use 10 billion baht from the central fund for emergency or necessary expenses under the 2026 annual expenditure budget, while the remaining 5.5 billion baht will come from the following year's budget. Approval is also being sought to incur binding obligations to ensure sufficient budget to pay insurance premiums throughout the coverage period. The Office of the Insurance Commission will work with the Thai General Insurance Association to procure insurers with high standards and stability, while the Ministry of Interior and the Department of Disaster Prevention and Mitigation will verify that assistance provided through the policies does not overlap with other government relief measures.