Thailand's insurance regulator, the Office of Insurance Commission (OIC), has been working with the relevant organisations, such as the Insurance Assessors Association and the Thai Loss Surveyors and Assessors Association, to coordinate the system for receiving damage notifications relating to insured buildings.
Due to the high number of damage reports to insurers in multiple areas, insurance companies have assigned loss adjusters to inspect damage in reported places that are accessible. The OIC notes that there are currently 85 licensed property assessors working at full capacity to ensure that the affected insureds receive compensation as quickly as possible.
Thus, the regulator has requested that all loss assessment companies prepare and expedite inspections and assessments of damages upon assignment by an insurer.
The OIC also requests the cooperation of the insured to:
- Prepare important information, such as checking the coverage conditions in property insurance policies
- Thoroughly survey and photograph the damage to the property as evidence for claims
- Promptly notifying the insurer
- Prepare the relevant documents, such as quotations, receipts and other necessary documents
- Facilitate damage inspection by indicating damaged areas and providing complete relevant information
These will help the claim process move more quickly and efficiently, as well as allow the insured to receive the right and complete compensation in accordance with the terms of the insurance policy.
The OIC also reminds claimants to be aware of fraudsters claiming to help earthquake victims in managing their property insurance claims.