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Motorcycle death benefit leaves programme with mounting losses in Thailand.
Knight Ridder/Tribune Business News, November, 2004
By Phusadee Arunmas, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Nov. 8--Insurers have proposed selling Ua-arthorn low-cost insurance at a flat rate of 500 baht per year and reducing coverage by one-third in order to rein in escalating losses.
The proposal from the General Insurance Association noted that the 300,000-baht death benefit for motorcyclists was too high and wanted to cut the figure to 200,000 baht.
Deaths from motorcycle accidents totalled 333, more than half of the 644 deaths covered by Ua-arthorn policies, since their introduction in September 2003.
More than 500,000 people, 94 percent of them in the provinces, are now covered by the plan.
"If motorcyclists continue to receive similar...
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