Mr Suthiphon expects renewals of Covid-19 insurance policies.
The price of Covid-19 insurance is set to be reduced by 20% because of the low total claims last year, only 1.87% of total premiums, says Anon Vangvasu, president of the Thai General Insurance Association (TGIA).
Covid-19 insurance protections were launched in March, with 9.36 million total policies sold in 2020 and total premiums worth 4.14 billion baht. Total claims were worth 77.3 million baht, or 1.87% of total premiums received.
Government-mandated Covid-19 insurance for foreigners entering Thailand from Sept 18, 2020 to Jan 3, 2021 sold 4,953 policies with total premiums worth 44.7 million baht. Total claims were worth 2.86 million baht for 22 cases.
“We expect insurance renewal will be popular this year despite the availability of…
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