The Thai government has approved a THB15.5bn ($467m) annual programme, to provide government-funded disaster insurance to around 30m households in high-risk areas against floods, storms and earthquakes under a new scheme.
The new scheme that came into effect on 1 September 2026, will provide around THB75bn in annual coverage, with private insurers taking on claims beyond the portion funded directly by the government.
The government through this scheme is keen to reduce the amount the state pays for disaster losses, which currently stands at least THB30bn a year to compensate households for disaster-related losses. Households with flood damage would receive an initial THB10,000, while storm or earthquake damage would qualify for THB5,000. Those first payments would be made within 15 days. The total compensation payout will be limited to THB100,000 per household for each disaster, while a disaster-related death would qualify for a THB2m payment.
The new scheme will be jointly developed by the Department of Disaster Prevention and Mitigation, Ministry of Finance, Office of Insurance Commission and Thai General Insurance Association.