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Car insurance refund?


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Our insurance company the one went bust, so we applied to this govt office https://www.gif.or.th/main/ in Feb for a refund. The paperwork, they gave us said we should have had a refund in 2 months, it's 5 next week. They never answer the phone, have not answered an email or letter. Is it worth contacting the consumer advice place at CW? and does anyone have that address? It's 5k so don't want to just write it off without trying.

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40 minutes ago, AustinRacing said:

has anyone got any refund elsewhere when the company goes bust?

It's a government guarantee, for what that's worth 

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Just now, proton said:

It's a government guarantee, for what that's worth 

BOL............best of luck 👍

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9 hours ago, proton said:

Is it worth contacting the consumer advice place at CW? and does anyone have that address?

I do not have the address but it's in the basement under Immigration. I doubt you'll ever see your money though.

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The General Insurance Fund is managed by the Office of the Insurance Commissioner. The OIC is under the Ministry of Finance, so you've already filed a claim for compensation under a fund managed by an entity that is part of one of the most powerful ministries in Thailand. I don't see how engaging the consumer ombudsman, an organ charged with helping consumers with complaints against the private sector, would provide any assistance.

 

I have heard that the claims and potential claims for compensation under the General Insurance Fund caused by bankrupt and potentially bankrupt Thai insurers far exceed the amount in the fund. This may be why you've not received compensation.

 

Whether claims against the GIF are eventually honored is likely a political issue. In my opinion, it would take a bailout by the government in order for the GIF to honor all valid claims.  Unfortunately, the government's cupboard is bare and this may not be a priority in spite of elections looming by early next year.

 

 

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