BANGKOK, 5 March 2013 The Civil Court has ordered Muangthai Insurance to pay compensation to Chulalongkorn University for the 2010 arson attack on shopping complexes in Siam Square, owned by the institution.
Following the university’s damage claim against Muangthai Insurance, the company is ordered to pay 1.78-million-baht in compensation plus interest of 7.5 per cent per annum from December 14, 2010.
The Civil Court ruled on Tuesday that the fire was not an act of terrorism or other causes, exempted by the all-risk insurance policy.
Many businesses in the Ratchaprasong intersection and nearby areas were badly affected by fires set at the end of an anti-government rally in May 2010. Nearly 53 building blocks in Siam Square were among those set on fire during the crackdown.