Thailand

Thailand’s Kasikornbank, one of the largest commercial banks in the country, is introducing a range of parametric and weather index based insurance products for their mortgage customers. After the catastrophic flooding in Thailand last year there has been a renewed focus on providing affordable, simple insurance products to home and business owners, in order to […]

Thailand’s new catastrophe fund, established in the wake of the catastrophic flooding the country experienced last year, is nearing launch as the Office of Insurance Commission and people responsible for the fund finalise the details  of the scheme. Thai Reinsurance Plc has been tipped to become the manager of the government sponsored cat fund, it […]

Given the extent of the losses experienced from last years flooding in Thailand the country can no longer be considered catastrophe-remote said ratings agency Standard & Poor’s in a report published last week. That’s a pretty big deal as it shows the increasing influence that Asian markets are destined to have on the insurance and […]

Thailand’s regulator the Office of Insurance Commission has announced that they are working with members of the re/insurance industry to establish a catastrophe fund which aims to bring more affordable natural catastrophe insurance coverage to households and businesses in the country. The need for a catastrophe fund has been raised since the extreme flood event […]

Estimates for the insured loss total from the flooding in Thailand are still confused and it’s likely to be some time before an accurate figure can be quoted. It seems that the figure we quoted of a $20 billion insured loss from a report by A.M. Best is likely to be too high, but other […]

Ratings agency A.M. Best has suggested that the recent severe flooding in Thailand could result in insured losses of as much as $20 billion once the final extent of the damage is understood. Industry estimates now range from $10 billion to $20 billion and over $4 billion of insurance claims have already been filed. The […]

The floods in Thailand could be the largest loss caused by flooding this decade, according to a representative of Allianz. In this news article, Lutz Fullgraf, Allianz’s CEO for global corporate and specialty in the Asian region, suggested that this will be the largest flood loss for years. We’d offer that it could be the […]

Estimates for insured losses stemming from the record breaking flooding being experienced across much of Thailand jumped significantly yesterday as reinsurance broker JLT Re suggested that they could reach as much as $13 billion (according to some reports). This followed an update from the Insurance Commissioners Office in Thailand who only put the figure at […]

Northern Thailand is currently facing the worst flooding the country has seen for over 50 years due to a period of torrential rains which have been increasing river levels over the last couple of months. More than 360 people have been killed by the rising floodwaters and much of the north of the country has […]

A magnitude 6.8 earthquake which occurred yesterday in Myanmar, not far from the borders with Thailand and Laos, was felt as far as 800km away in Bangkok. Some affected areas remain cut off so the extent of the damage is hard to tell.