The Thai General Insurance Association (TGIA), led by its Secretary General Oran Vongsuraphichet, is urgently looking into reports of foreign insurance companies selling pet insurance online without proper authorization as agents or brokers. The association has expressed its concerns and said it is not taking the matter lightly.
Secretary General Oran confirmed that the TGIA is fully committed to addressing issues affecting the insurance industry. He added that approximately 4,000 individuals have purchased pet insurance from unlicensed companies, with total insurance premiums of between 10 million and 20 million baht. Over 180 customers have filed claims, some receiving only 40% reimbursement.
Such firms have also been found to offer health insurance policies to foreigners, which are used to support visa applications for staying in Thailand.
The TGIA has formed a special task force to rectify this issue and ensure justice for consumers in accordance with the law. The task force is collaborating with relevant governmental agencies such as the Department of Special Investigation (DSI), the Office of the Insurance Commission, the Immigration Bureau and foreign bodies to scrutinize these insurance companies.
Additionally, investigations currently are underway to gather concrete evidence against individuals whose surnames have appeared in relation to these foreign insurance companies. Legal action will be taken immediately upon confirmation of any illegal activities. (NNT)