Business Services Industry
Compensation Payouts Set to Absorb 20 Percent of Thai Insurance Premiums.
Knight Ridder/Tribune Business News, October, 2002
Bangkok Post, Thailand Knight Ridder/Tribune Business News
Oct. 8--Payouts on damage caused by the current floods will probably absorb at least 20 percent of property insurance premiums paid this year, industry experts say.
The losses for general insurance companies could run higher if there is more flooding and large properties such as industrial estates around Bangkok are affected.
Adisorn Tanti-anankul, the chairman of the General Insurance Association's property subcommittee, said that while precise figures had to be worked out, he expected the loss on premiums to be at least 20 percent.
However, this would be low if compared with the impact of floods last year, when losses on premiums stood at 54.27 percent.
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