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Friday, March 29, 2024

Employees laid off in insurance firm collapse demand overdue payments

Former employees from an insurance firm bankrupted by Covid-19 have rallied outside the Office of the Insurance Commission, demanding overdue salaries and severance monies be paid. Around 300 employees of The One Insurance were made redundant when the firm collapsed, but have yet to receive payments and other compensation owed to them.

According to a Thai PBS World report, one labour activist said it has now been nearly 2 months since the firm closed and former employees still haven’t received what they’re owed. The law dictates that the Non-Life Insurance Fund must pay overdue salaries to workers who’ve been laid off, along with severance pay and other benefits. These are estimated at around 82 million baht, plus 15% interest. Payment must be made within 30 days of the January 14 announcement that confirmed laid-off workers would be paid.

The activist says many former…

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