Supreme Court orders 6 insurers to pay 100 million baht to SET for riot damage

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Supreme Court orders 6 insurers to pay 100 million baht to SET for riot damage

 

 

Thailand’s Supreme Court has ordered six insurance companies to pay the Stock Exchange of Thailand (SET), Thailand Securities Depository and Family Knowhow Company 100 million baht in total compensation for damage caused to the SET building and valuables contained therein by arsonists during the anti-government protests in 2010.

 

The Supreme Court’s verdict, which was read today (Wednesday) at Bangkok South Civil Court, overturned the verdicts of two lower courts which acquitted New Hampshire Insurance, Dhipaya Insurance, Fall Call Insurance, Bangkok Insurance, Deves Insurance and Muang Thai Insurance.

 

The three plaintiffs took out insurance on valuables in the SET building worth about 3.4 billion baht with a coverage period from January 31st 2010 to January 31st 2011.

 

Full story: https://www.thaipbsworld.com/supreme-court-orders-6-insurers-to-pay-100-million-baht-to-set-for-riot-damage/

 

 

-- © Copyright Thai PBS 2019-05-02

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[hansnl]

Claim it back from the instignators of the fires?

A few of them are still in politics, few of them have "left the building".

[grumpy 4680]

   I thought all insurance company's have a clause not to pay damages for civil unrest or riots, the lower courts agreed, but higher court see's differently, are they too in the Junta's pocket ??????

[TallGuyJohninBKK]

The full article says the policies had exemption clauses for "terrorism," but somehow the SC ruled the arson was NOT terrorism.

 

If it wasnt, I'd sure like to hear the court's reasoning of just what it was!!!