Ministry closes 2 Covid-hit insurers
Two companies had their business licences revoked after they ran out of money to pay claims
The Finance Ministry has revoked the business licences of Southeast Insurance and Thai Insurance, effective yesterday, after the two companies were declared financially incapable of paying outstanding claims, according to the Office of the Insurance Commission (OIC).
After the closure, the OIC and the General Insurance Fund will be responsible for compensation payments of outstanding claims for the two companies, said Suttipol Taweechaikarn,…
