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Cost of coronavirus health coverage to drop 20%, say insurers

The Thai General Insurance Association estimates the cost of Covid-19 insurance will drop by 20 per cent in 2021, since claims are currently low.


Association chairman Anon Wangwasu added that demand for Covid-19 insurance was still strong due to the second outbreak in Thailand, and extension rates will be high.


Insurance brands are running promotions to attract more customers for their Covid-related coverage, he added.


Meanwhile, the Office of Insurance Commission (OIC) expect claims on Covid-19 insurance policies to rise only slightly from the Bt102 million on 9.87 million insurance policies last month.


The OIC forecasts that claims will peak at Bt130 million on 10.8 million policies in March.

Published : January 12, 2021