Chandler MHM

Newsletter

Thailand: Consequences of Revocation of Non-life Insurance Business License

The current poor economic conditions resulting from the continuing spread of COVID-19 have undoubtedly affected the financial status of insurance companies. This is especially the case for those insurance companies who provided insurance for COVID-19 infection without putting in place appropriate arrangements such as ceding such risks to reinsurers. If an insurance company has an unstable financial status, this would eventually lead to revocation of its business license.