Thailand Approves Nationwide Disaster Insurance Plan for Households

Thailand Approves Nationwide Disaster Insurance Plan for Millions of Households

Thailand’s Cabinet has approved in principle a national disaster insurance programme intended to protect around 30 million households against floods, storms and earthquakes. The government plans to spend approximately 15.5 billion baht annually on the scheme as it shifts from relying primarily on post-disaster relief toward preparing financial protection in advance. Households affected by floods would initially receive 10,000 baht, while storm and earthquake victims would receive 5,000 baht, with the first payments targeted within 15 days. Total compensation could reach 100,000 baht per household for each disaster, while disaster-related deaths would carry a benefit of 2 million baht per person. Authorities say the system could deliver faster assistance to victims while transferring part of the financial burden of major catastrophes to the insurance industry and reducing pressure on government relief budgets.