Insurance assessors visit glove-factory fire scene

[webfact]

Insurance assessors visit glove-factory fire scene

By The Nation

 

 

Five insurance companies have brought Bangkok-based and foreign experts to inspect the massive fire scene at Thai Kong Co’s rubber-glove-manufacturing factory in Trang’s Kantang district.
 

The fire, which occurred on Sunday morning and persisted for the next two days, had been extinguished by Wednesday morning, although some smoke still lingers in the air.

 

All firefighters, soldiers and Trang disaster prevention and mitigation officials, who had been there to control the fire, withdrew from the scene and handed over the site to factory personnel.

 

Representatives from Bangkok Insurance, Chubb Samaggi Insurance, QBE Insurance, Southeast Insurance, and Thaisri Insurance went with Kantang police forensic officers to inspect the scene inside the factory.

 

As the area which workers reported to be the origin of the fire had been demolished and cleared of debris, and other burnt structures were feared to be in danger of collapse, the team returned empty-handed.

 

The insurance company representatives said they would try to inspect the scene along with police and related agencies soon.

 

It was estimated the factory suffered damage worth Bt400 million in this fire.

 

Thai Kong Co reportedly has insurance policies with the five firms with a combined value of Bt2 billion.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30338184

 

-- © Copyright The Nation 2018-02-07

[phil2407]

Are you allowed to have that many policies with that many firms? 

If the damage estimated at 400 million but insurance estimated at 2 billion do they split it equally? 

Edited February 7, 2018 by phil2407

[Phuket Stan]

48 minutes ago, phil2407 said:

Are you allowed to have that many policies with that many firms? 

If the damage estimated at 400 million but insurance estimated at 2 billion do they split it equally? 

Quite often insurance of that amount of money is spread across several insurance companies...saves the companies being wiped out if they were the sole insurers

 

[Just Weird]

On ‎2‎/‎7‎/‎2018 at 6:12 PM, phil2407 said:

Are you allowed to have that many policies with that many firms? 

If the damage estimated at 400 million but insurance estimated at 2 billion do they split it equally? 

Yes, multiple policies are allowed and the practice is common.  It is up to the policy holder to decide which of the companies he wants to submit claims to and that will decide which one pays.