OIC unmoved by soaring Covid claimsTotal claims for Covid-19 insurance ballooned to 9.43 billion baht at the end of August and are expected to continue rising as the daily infection rate remains high, says the Office of the Insurance Commission (OIC). OIC secretary-general Suthiphon Thaveechaiyagarn said the office monitors and inspects many insurance companies and has not found any systemic risk or impending liquidity crunch arising from the surge in Covid claims. By the end of August, insurance companies paid 9.43 billion baht in Covid claims. Although the increase in claim payments may affect some companies offering Covid insurance, the OIC insisted the premiums received were sufficient to sustain businesses. The OIC is overseeing companies' financial status and operating conditions, both inside and outside insurance companies' offices.

Source: Bangkok Post September 22, 2021 23:37 UTC