Bangkok: The Thai General Insurance Association is closely monitoring the situation and preparing to help policyholders affected by Typhoon Wipha, revealing four insurance policies that cover damage from flooding.
According to Thai News Agency, Dr. Somporn Suebthavilkul, President of the Thai General Insurance Association, stated that due to the influence of the tropical storm ‘Wipha’ causing heavy rain and flash floods in many provinces nationwide, the association has been closely monitoring the situation with concern. Dr. Suebthavilkul expressed encouragement to those affected, urging safety and a swift recovery. He advised the public to review their insurance policies to determine if they cover flood damages, enabling them to file for compensation and assist in returning to normalcy.
Once the flood situation improves, insured individuals can contact their insurance companies to report damage and claim compensation. The insurance policies covering flood damage include specific car insurance policies, fire insurance for homes, and Property All Risk Insurance (IAR). Type 1 car insurance, as well as Type 2+/3+ policies with extended natural disaster coverage, provide flood damage protection. Fire insurance for homes offers coverage for natural disasters, including floods, up to 20,000 baht, while fire insurance policies require additional flood coverage for protection. IAR insurance offers flood damage coverage based on the insured amount.
The association is also preparing to act as a coordination center between insurance companies and the public to assist policyholders affected by floods or other disasters. This includes facilitating claims, verifying information in case of lost policies, and providing insurance advice through online channels like the association’s Facebook page and phone services during business hours.
Dr. Suebthavilkul emphasized the importance of risk management and regular insurance policy reviews in light of frequent and severe natural disasters. He highlighted the insurance system’s role in alleviating disaster impacts and supporting recovery and compensation processes, ensuring societal stability. The non-life insurance sector remains committed to assisting and supporting the public and policyholders in every situation.