Demand for terrorism insurance is on the rise due to political uncertainty, Muang Thai Insurance president Nualphan Lamsam said today.
She expects this type of policy to be increasingly popular this year, with her company alone having received proposals from more than 10 companies.
However, she said terrorism-risk premiums were rising, following the recent bomb blast in the Rajdamri are of Bangkok which sparked concerns among overseas reinsurance companies.
Muang Thai recently paid Bt100 million in compensation to Srithai Superware, whose manufacturing facility in Amata Nakorn was burnt down in June. It is due to pay an additional Bt300 million later this year.
Nualphan said that despite these payments, the company remained financially strong with a capital fund of Bt3 billion.
In the first half, its earnings totalled Bt169 million on premiums of Bt2.3 billion. Full-year premiums are expected to be Bt4.6 billion, generating a profit of Bt300 million. - The Nation