{"id":166989,"date":"2022-03-07T12:26:23","date_gmt":"2022-03-07T04:26:23","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=166989"},"modified":"2022-03-07T12:26:23","modified_gmt":"2022-03-07T04:26:23","slug":"bests-commentary-covid-19-claims-put-thailand-insurers-under-pressure","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=166989","title":{"rendered":"Best\u2019s Commentary: COVID-19 Claims Put Thailand Insurers Under Pressure"},"content":{"rendered":"\n<p><strong>SINGAPORE, March 7 (Bernama<strong>-BUSINESS WIRE<\/strong>) &#8212; <\/strong>Operating losses relating to medical insurance products covering COVID-19 infections have put considerable strain on the operating performance and balance sheets of several Thailand insurers, according to a new<strong> AM Best <\/strong>commentary.<\/p>\n\n\n\n<p>In its <em>Best\u2019s Commentary<\/em>, titled, \u201cCOVID-19 Claims Put Thailand Insurers Under Pressure,\u201d AM Best notes that according to the Thailand General Insurance Association (TGIA), most of the COVID-19 claims in the country have come from a short-term policy that pays a sizable lump sum when a policyholder contracts COVID-19. This payment is fixed and does not relate to medical costs incurred by the policyholder. Although the market stopped writing these policies in June 2021, a high volume of risks remains in force through the first half of 2022. Total losses in 2021 related to the lump-sum policies have been estimated at THB 34 billion (USD 1.1 billion), or approximately 19% of the capital and surplus of the industry as of September 2021. The mounting claims have forced four companies to cease operating, and more recently, Thai Insurance and Southeast Insurance<strong>\u2014<\/strong>one of the country\u2019s top 10 insurers<strong>\u2014<\/strong>applied for regulatory approval to be liquidated in early 2022. <\/p>\n\n\n\n<p>http:\/\/mrem.bernama.com\/viewsm.php?idm=42567<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE, March 7 (Bernama-BUSINESS WIRE) &#8212; Operating losses relating to medical insurance products covering COVID-19 infections have put considerable strain on the operating performance and balance sheets of several Thailand insurers, according to a new AM Best commentary. In its Best\u2019s Commentary, titled, \u201cCOVID-19 Claims Put Thailand Insurers Under Pressure,\u201d AM Best notes that according [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[315],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/166989"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=166989"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/166989\/revisions"}],"predecessor-version":[{"id":166991,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/166989\/revisions\/166991"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=166989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=166989"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=166989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}