Sampanh Insurance

[samuijack]

I have my truck insured with Sampanh insurance, who were told by the government 2 months ago not to take on any new buisness as their capital reserves were below the minimum required. They are were in negotiatins with some middle east company with the view of solving their finances with a merger. They, according to the Bangkok post had until 16th August to solve this problem, but I have seen nothing more about this and cannot find out any info on their web site. Does anybody have any information on this as they are the 4th largest insurance in Thailand. I understand that in the event of a claim, I must pay first and then claim from them as the repair shops are not willing to undertake their business.

[ThaivisaInsurance]

The DOI have sent in people to "run" the company for now until they find the true debts and it is correct they cannot write new business.

The company's problems first came about when a group of repair shop owners complained to the DOI they had not been paid - then the extent of the debts started to suface.