Insurance Regulator Mobilizes Flood Claims, Payouts Within 7 Days
Thailand's insurance regulator ordered insurers to process flood damage claims within 7 days, mobilizing loss adjusters and repair networks to handle an anticipated surge of claims across the country.
On September 28, the Insurance Commission Secretary Chuchart Premoolpol directed Deputy Secretary Adisorn Phiphatwatphong to chair a joint meeting with the Thai Non-Life Insurance Association and insurance companies to assess flood damage and prepare for an expected wave of claims across the country. Key priorities include staffing up loss adjusters, opening reporting channels, arranging tow trucks and repair networks, and pre-scheduling damage assessments in areas still underwater to enable rapid processing once water recedes. Most insurers are proactively contacting affected policyholders via phone, LINE, and online channels to identify victims and schedule inspections in advance.
Clear damage assessment claims will be paid within 7 days, the Commission confirmed. For vehicles declared a total loss, insurers will expedite documentation alongside the damage assessment, with the Commission coordinating with the Thai Bankers Association to reduce paperwork delays for financed or lease-purchased vehicles. Internal combustion engine vehicles will be assessed on a five-level damage scale (A–E), while electric vehicles require evaluation of both the vehicle and battery; if the battery cannot be safely repaired, its damage will factor into a total-loss determination.
Life insurers may extend premium payment grace periods by an additional 60 days from the original deadline for policyholders affected by flooding.
