Almost 900,000 Southeast Insurance, Thai Insurance customers register for cash back
Nearly 900,000 Southeast Insurance and Thai Insurance customers have registered to get their premiums back after the two companies filed motions with the Office of Insurance Commission (OIC) to shut down their business.
Both are subsidiaries of Thai Group Holdings, which had announced the termination of its insurance businesses in late January due to an unprecedented surge in Covid-19 claims.
The group has reportedly paid more than 9.9 billion baht in Covid-19 claims.
In an announcement issued on Tuesday, the companies said about 889,000 customers have registered to get their Covid-19 premiums back. Some 387,000 customers have been approved so far.
Southeast Insurance and Thai Insurance will start disbursing the full amounts from Wednesday (February 9), they said.
The companies had opened registration for customers who wished to get their premiums back since February 1 at 75 branches nationwide, via the 1726 call centre or official Line account @Southeast.th.
“Customers who do not wish to withdraw their premiums will still be covered for Covid-19 as long as the companies still operate their insurance businesses,” the two firms said.
The OIC has yet to approve the companies’ motion to shut down their insurance businesses and has ordered them to submit necessary documents pertaining to plans to compensate customers and manage their debts. Until the motion is approved, Southeast Insurance and Thai Insurance are still considered to be in the insurance business and therefore are required by law to provide coverage to customers with active policies.