More insurance firms face bankruptcy if COVID-19 insurance claims are not scrapped

[Sheryl]

On 12/31/2021 at 7:57 PM, Etaoin Shrdlu said:

Yes, that would support the position that this is was a bad business decision that was widely taken within the industry and possibly defend against a D&O suit. I'm also thinking about the fact that the OIC approved the cover being used as a defense as well.

 

 Which does speak well to  the OIC's review processes....

[Don Chance]

13 hours ago, freedomnow said:

It was December 1st it changed to covid cover only, and it's not 'free' if you price compare the same flight by KLM on same route etc.

 

A thing is only free when you don't have to pay a penny, and even then its an enticement otherwise.

I was cheapest for me at that time. Emirates had a great airplane too., nicest flight ever. The other cool features that i can change the return flight up to 36 months later!

[PremiumLane]

On 12/31/2021 at 11:02 AM, Etaoin Shrdlu said:

especially if treatment in private hospitals were covered.

why should it cover treatment in private hospitals? 

[PremiumLane]

On 12/31/2021 at 1:53 PM, Sheryl said:

Thailand has universal health care (for its citizens).

Not a well planned and good one. It is incredibly limited. Basically, you shouldn't be profiting from basic human needs such as healthcare. 

[Etaoin Shrdlu]

7 hours ago, Sheryl said:

 Which does speak well to  the OIC's review processes....

Quite.

 

I would also like to know whether there were any external influences brought to bear on the decision. Personal accident policies with a "hospital cash" benefit have been around for a long time, but the payout of 100,000 baht for a positive test is very high. Something like 1,000 baht per day for each day of mandatory quarantine would have been better aligned with this market. Something does not seem right.

[Sheryl]

4 hours ago, PremiumLane said:

Not a well planned and good one. It is incredibly limited. Basically, you shouldn't be profiting from basic human needs such as healthcare. 

The policies in question had nothing whatsoever to do with healthcare or healthcare costs.

[freedomnow]

10 hours ago, Don Chance said:

I was cheapest for me at that time. Emirates had a great airplane too., nicest flight ever. The other cool features that i can change the return flight up to 36 months later!

But the insurance can only cover 365 days from departure date unless you know otherwise...

[meechai]

On 12/30/2021 at 10:02 AM, webfact said:

He said that compensation claims may surge to 180 billion baht next year, if the Omicron variant spreads quickly and infects several tens of thousands of people each day, in which case several more insurance companies will be unable to shoulder the burden of the claims and will, ultimately, be forced into bankruptcy.

Don't roll the dice if you cant pay the price... ????

 

What is instead folks had not bought insurance then asked you for coverage?

It is no different than you SELLING insurance then balking at your losses

You bet...you lost

[Don Chance]

14 hours ago, freedomnow said:

But the insurance can only cover 365 days from departure date unless you know otherwise...

No it's worse than that. The insurance is only for a 6 month ticket. But the return flight ticket i can change for up to 36 months from Dubai.  I will have to get new travel insurance next month for $100 a month.

[DrPhibes]

'nuf said...