“The OIC board has agreed to extend the measures introduced when Covid-19 first hit Thailand early last year. These measures were to expire in December 2020,” OIC secretary-general Suthiphon Thaweechaiyagarn said on Monday. “OIC’s legal committee is reviewing the details. Once that is completed, the measures will be announced and become retroactively effective from January 1 to June 31.”
The measures that OIC rolled out last year include:
• Allowing insurers to delay the payment of insurance premiums by 60 days. More than 420,000 applied for this aid.
• Allowing casualty insurance premium to be paid in instalments. Over 1.1 million have applied for this measure.
• Allowing temporary suspension of coverage under accident insurance for tour operators and tour guides. About 6,200 have applied for this measure.
• Allowing travel and transport entrepreneurs to pay insurance premium in instalments. Over 26,000 entrepreneurs have applied for this.
• Allowing changes in coverage of casualty and car insurance. Over 255,000 insurers have applied.
• Allowing car insurance premium to be paid on daily, monthly or quarterly basis instead of yearly basis. Over 10,500 insurers have applied for this measure.
Published : January 18, 2021
By : THE NATION