SMEs to pay lower flood protection insurance
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Small and medium-sized enterprises (SMEs) will be subject to lower insurance premiums, once the national insurance pool comes into effect, Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said on Tuesday.
Speaking on the sidelines of the Asean Business Forum 2012, he noted that the decision had been made by the government committee responsible for the insurance fund.
They recently held a meeting on the premiums to be paid by large and small companies for flood insurance coverage, he said.
“SMEs should pay a lower premium than large firms,” he said.
He added that the rates for different regions would not differ much, given that the impacts in flood-prone areas in many provinces will be reduced by government measures.
The government is setting up a Bt50 billion insurance pool for companies that are denied flood protection coverage by their private insurers.
