Claims spark off insurers' co-operation
The case of Pichet Porntantipong, who is alleged to have chopped off his thumb in order to claim on many insurance policies, has fired up an old proposal among non-life insurance companies - the setting up of a system by which they can share data about policy-holders.
The chairman of the Thai General Insurance Association's Miscellaneous Insurance Subcom-mittee, Thanad Jeerachaipaisarn, said yesterday that initial cooperation was needed between companies to set up a system of sharing policy-holder data so that insurers are alerted to applications from people who already have insurance policies in which the sum insured is above Bt3 million.There are 74 non-life insurance companies in Thailand. Earlier attempts to set up such a system failed because many of the companies believe that sharing customer data could hurt their business. Kheedhej Anansiriprapha, an association committeeman and chief executive of AXA Insurance Thailand, said the issue should be discussed. "We do not need to share much information. Only the names, identification numbers, policy numbers and the amount of the sum insured are enough," he said. "This case has proved that when we cooperate, things get along well. We help to gather the information and decide what action we should take." According to Thanad, all of the insurers that sold personal-accident policies to Pichet have chosen to declare the policies null and void because Pichet's injury was not inflicted by accident. They are proceeding to return premiums collected from Pichet worth a total of about Bt368,000, and are filing legal actions against him with the police. According to the association's data, Pichet bought 60 insurance policies, including life and personal-accident coverage, for a total sum insured of Bt68.35 million. He was also covered for Bt3.1 million in medical expenses. Piyarat Setthasiriphaiboon The Nation
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