Specifically, the meeting focussed on preparing personnel, claims adjusters, claims reporting channels, repair shop networks, damage assessment and evaluation and claims processing to ensure an efficient response to the situation. Discussions included surveying insurance policy data in flood-affected areas through the Insurance Bureau System (IBS) to assess the scope of damage and the number of policyholders who may be affected, as well as integrating cooperation with insurance companies in preparing tow trucks and recovery vehicles to assist in moving vehicles damaged by flooding and obstructing traffic.
So far, the OIC has noted that reports from the insurance industry indicate that most claims adjusters and insurance companies have already begun a proactive approach, not solely relying on policyholders to contact them. They have also deployed teams to contact and coordinate with clients in affected areas through various channels, including telephone, LINE and online platforms.
The meeting also discussed a major limitation in planning for disaster relief efforts: up-to-date water level information in each area, as some areas are still inaccessible to disaster surveyors.
To address the issue, the business sector has proposed that the OIC coordinate with relevant government agencies to share information on water levels and access to affected areas. This data will be used to plan the deployment of surveyors and rescue teams appropriately. The information will also be forwarded to the Thai General Insurance Association for dissemination to member companies and for use in preparing for disaster relief efforts.
Claims processing
The OIC emphasised the importance of speed in claims processing and payment in the meeting, in order to alleviate difficulties policyholders affected by the floods may face.
In cases where the damage meets the criteria for total loss, insurance companies must prepare and compile relevant documents alongside the damage assessment process to ensure complete documentation and clear confirmation of the damage, enabling prompt compensation payment.
A guideline for companies to consider coverage and compensation payments was also outlined for cases of severe damage, and for vehicles that may qualify as total loss, ensuring swift and fair processing according to policy terms.
Vehicles with outstanding loans
As vehicles under hire-purchase agreements, or with outstanding loans with financial institutions, may experience delays in document collection from hire-purchase lenders, compensation process in total loss cases may be limited.
To address this, the OIC will coordinate with the Thai Bankers Association and relevant agencies to facilitate the preparation and forwarding of documents, reducing processing time and steps, in order to expedite compensation payments.
Vehicle damage from flooding
In the case of vehicle damage from flooding, assessment guidelines for internal combustion engine (ICE) vehicles and electric vehicles (EVs) will be separated.
ICE vehicles will use the five-level damage assessment criteria from the OIC as supporting information, and compensation will be determined based on actual damage incurred and the terms of the insurance policy.
On the other hand, EVs will be assessed in similar approach to that used in the Hat Yai flood case, whereupon battery damage, alongside damage to the vehicle itself, especially in cases where batteries are submerged in water, will be considered.
The assessment must also determine whether the vehicle can be safely restored or repaired for use again. If the EV cannot be restored, it will be a factor in determining whether the case falls under the category of total loss.
The regulations and guidelines of each EV manufacturer and model must also be considered.
Flood damage data compilation
The OIC addressed the compilation and reporting of flood damage data as well. The regulator asked insurers during the meeting to compile information on the number of claims, types of damage, preliminary damage value, progress of damage assessment and evaluation, compensation payments, as well as any problems or obstacles encountered, using a form provided by the OIC.
The information will be used to continuously monitor the situation and the progress of assistance provided to policyholders.
Measures implemented
Some measures the OIC has implemented to assist, mitigate and rehabilitate policyholders affected by the floods include:
Life and health
An extension on the grace period for premium payments by 60 days from original date, for life insurance. There are also some relaxations for policy lapses due to non-payment of premiums, automatic use of surrender value to pay premiums and changes to premium payment schedules, in order to reduce the burden on policyholders.
Insurers may extend the premium collection period for policyholders as stipulated in the insurance policy by 90 days from the first day the company is required to collect premiums, in health insurance policies and critical illness coverage as well.
If an insurance policy with similar coverage has expired due to non-payment of premiums, an insurer may also waive the medical examination required for policy renewal.
Non-life
For motor vehicle insurance, companies may allow premium collection and acceptance for up to 180 days from the effective date of the insurance contract or the start date of coverage for all types of vehicles, save some exceptions.
In other non-life insurance lines, companies may extend the premium collection period for policyholders as stipulated in the insurance policy by 90 days from the first day the company is required to collect premiums.
Regarding microinsurance for residential fire insurance policies, insurers may consider providing initial compensation under natural disaster coverage up to the full insured amount of THB10,000 ($298) to help alleviate damages.
For payout, policyholders must submit identification documents and evidence of damage, such as flood photographs or a list of damaged property. Compensation will be based on the coverage amount specified in the insurance policy.
Measures have also been established to provide compensation assistance for residential homes and shops affected by the floods.
In the case of residential fire insurance policies, initial compensation of up to THB20,000 will be considered under the natural disaster coverage limit. If the insured has purchased additional flood coverage, an additional initial compensation of THB10,000 will be considered.
If the damage exceeds THB10,000, the insured must submit supporting documents and evidence for a further claim.
For businesses with fire insurance or industrial all risks (IAR) coverage that have also purchased additional flood coverage, an initial compensation of THB30,000 will be considered.
If the damage exceeds THB30,000, the policyholder must submit supporting documents and evidence for a further claim. Policyholders may use identification documents and evidence of damage, such as flood photographs or a list of damaged property, to support their claim. Compensation will be based on the coverage amount stipulated in the insurance policy.
Insurance intermediaries
Regarding insurance intermediaries, the OIC has implemented measures to extend the grace period for renewing individual insurance agent and broker licenses that expired on or after 25 September 2026.
According to the OIC, this is due to the floods potentially preventing individuals from completing training or renewing their licenses within the legally mandated timeframe.
To mitigate the impact on insurance intermediaries and ensure continued access to insurance services for the public, those affected by the floods can request an extension of 15 days from the date the floods end, but no later than 31 December 2026.
A written explanation of the reasons for the extension must also be submitted, and the applicant must have completed the required training but be unable to apply for renewal within the deadline, or must have not completed the required training and be unable to do so due to the floods.
However, during the period of license expiration and non-renewal, license holders are prohibited from selling insurance policies or conducting activities as insurance intermediaries until their licenses are successfully renewed.
Post-flood preparations
The OIC also urged the insurance industry to prepare to provide assistance after floodwaters recede, especially in areas with significant damage where residents may not be able to move their vehicles and belongings out in time.
As such, the OIC requested that insurers ensure sufficient personnel, surveyors, claims reporting channels, a network of repair shops and damage assessment capabilities to provide immediate assistance to policyholders once the situation improves and it is safe to access the affected areas.