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Thai insurance brokers set to cash in with new government approved, manditory 'covid' insurance policy.
04/09/2020
COVID INSURANCE OFFICIALLY APPROVED FOR FOREIGNERS TRAVELING TO THAILAND
The Office of Insurance Commission made an announcement today, September 4, to give the green light to a Covid-19 insurance policy for foreigners traveling to Thailand.
The announcement follows the CCSA announcement of a 37-year-old inmate at Khlong Prem Prison testing positive for the coronavirus, it is believed to be the first locally spread case in over 100 days according to the Ministry of Public Health.
The approval of Covid-19 coverage for foreign tourists was initiated accordingly to the country’s re-opening measures of the CCSA to prevent the future risk of the spread of the virus since Thailand is ready for limited groups of foreigners to visit, said secretary-general Suthipol Taweechaikarn.
The policy, according to Suthipol, had been thoroughly and officially approved by the relevant health departments on August 28, namely the Ministry of Public Health, Ministry of Foreign Affairs, Department of Disease Control, Thai General Insurance Association, and the Thai Life Assurance Association.
The purchase of the foreigners’ Covid-19 insurance will be done online and will be activated as soon as they pass through the immigration in the country, said the secretary-general.
In order to buy the policy, Foreigners are required to have a certificate of entry, a Fit-to-Fly Health or Fit-to-Travel health certificate, and a medical certificate, proving that they tested free of Covid-19 via the RT-PCR method 72 hours prior to departure.
Coverage under the insurance will be divided into two parts:
These rates include stamp duty and tax.
Secretary-general Suthipol stated: “This insurance policy is introduced in Thailand’s insurance system to help manage the risk of the country’s re-opening measures by the government. It will hopefully help maintain health measures and prevent the spread of Covid-19 in the country.”
The policies will be offered jointly by the following 12 insurance firms:
Dhipaya Insurance, Bangkok Insurance, Chubb Samaggi Insurance, Navakij Insurance, Thaivivat Insurance, Pacific Cross Health Insurance, The Falcon Insurance, Mittare Insurance, Muang Thai Insurance, Viriyah Insurance, Syn Mun Kong Insurance, Southeast Insurance, Asia Insurance 1950, Bangkok Life Assurance, Muang Thai Life Assurance, and Ocean Life Insurance.
SOURCE: The Office of Insurance Commission / The Ministry of Public Health.
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