Central loses to Deves in 3.7 billion baht fire claim

[Lite Beer]

Central loses to Deves in 3.7 billion baht fire claim

Central Pattana says it will appeal after the Appeals Court reversed the ruling of the court of first instance that has ordered Deves Insurance to pay 3.7 billion baht in claims for damages caused by a fire at Central World at the end of the red-shirt protest at Ratchaprasong, in downtown Bangkok, in May 2010.

The reversal of the first court’s verdict by the Appeals Court was made on October 9.

Central Pattana said in its notification to the Stock Exchange of Thailand on the same day that it will appeal the verdict within a 30-day timeframe stated by law.

But Central said it has the right to seek extension of the appeal period from the court, while approval is depended on the court.

Central said in the notification that its insurance policies bought from Deves Insurance covers industrial all risk (13,224 million baht) business interruptions (6,147 million baht), and terrorism (3,500 million baht).

The Civil Court or the court of first instance, had earlier in 1 March 2013 ordered Deves Insurance to pay compensation for property damage in the amount of 2.71 billion baht and compensation for loss of income in the amount of 989.8 million baht, with interest of 7.5% per annum from March 31, 2011, until such amount was fully paid by Deves Insurance.

Source: http://englishnews.thaipbs.or.th/central-loses-deves-3-7-billion-baht-fire-claim/

-- Thai PBS 2014-10-11

[Bluespunk]

Note to self, never buy insurance from Deves Insurance.

[Somtamnication]

Jatuporn and that Dubai idiot should be paying the bill as well.

[DGS1244]

If you want good insurance cover that actually pays out make sure it is a foreign owned company, not Thai.

[lomatopo]

Deves is owned by the Crown Property Bureau. 'Nuff said.

[Mango Bob]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

[Suradit69]

If you want good insurance cover that actually pays out make sure it is a foreign owned company, not Thai.

Yes because all foreign insurance companies are totally honest and no one has ever had a claim turned down or disputed by any foreign insurance company because ... umm ... they're foreign.

Edited October 11, 2014 by Suradit69

[h90]

Jatuporn and that Dubai idiot should be paying the bill as well.

Nothing happening there....they are too influential to pay

[JOC]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

Ofcourse the fire was caused by an electrical failure and had nothing whatsoever to do with the redshirts!!

[worgeordie]

Insurance companies will take the money off you ,try and make a big

claim and they will refer you to the fine print ! Bankers,Insurance Co.

and Lawyers,can you trust them?

regards Worgeordie

[TheCruncher]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

I remember at least one gentleman shouting from a stage right in front of Central world days earlier, that they would turm Bangkok in a sea of fire if the army dared to crack down on them.

I recall another gentleman shouting from that same stage that every red shirt should bring a bottle of gasoline with them on their visit.

Quite a coincidence that Bangkok, and especially the place right at their back, turned into sea of fire. Don't you think so?

[Thai at Heart]

Of course, doing business with certain organisations gets you a certain security and seal of approval.

Until of course ,you would like your money.

[Time Traveller]

Deves is owned by the Crown Property Bureau. 'Nuff said.

Yes I was a little surprised that this story made it's way to the news and wasn't covered up.

The end of the day it's a company set up to enrich it's rich shareholders and not to provide insurarnce when their policy holders need it.

[Wilsonandson]

Terrorism, are all shopping malls insured against terror? They should put up signs in shopping malls warning people to be vigilant and look out for acts of terror. I suggest airport scanners at every entry point, cars checked for bombs with mirrors atachd to a pole, the wearing of sunglasses, veils, hats, ski masks banned.

[chainarong]

Depends on the policy fine print , some don't cover for riots , war , floods, act of god, they cover their arse so good you really think they are great, until you claim , some in East Oz are still waiting from floods three years ago and many is the time the Oz governments have actually named and shamed them after bush fires ,the people concerned thinking they were covered for fire, in real terms they are blood sucking leaches., Insurance companies I mean.

[Wilsonandson]

Depends on the policy fine print , some don't cover for riots , war , floods, act of god, they cover their arse so good you really think they are great, until you claim , some in East Oz are still waiting from floods three years ago and many is the time the Oz governments have actually named and shamed them after bush fires ,the people concerned thinking they were covered for fire, in real terms they are blood sucking leaches., Insurance companies I mean.

The department of water treatment and sewage management is covered for blood sucking leaches.

[Bluespunk]

Terrorism, are all shopping malls insured against terror? They should put up signs in shopping malls warning people to be vigilant and look out for acts of terror. I suggest airport scanners at every entry point, cars checked for bombs with mirrors atachd to a pole, the wearing of sunglasses, veils, hats, ski masks banned.

To be honest just look out for the guy with a can of gasoline and a brightly coloured article of upper body wear.

[Gunna]

Depends on the policy fine print , some don't cover for riots , war , floods, act of god, they cover their arse so good you really think they are great, until you claim , some in East Oz are still waiting from floods three years ago and many is the time the Oz governments have actually named and shamed them after bush fires ,the people concerned thinking they were covered for fire, in real terms they are blood sucking leaches., Insurance companies I mean.

The public wants as cheap insurance as possible, so the cheaper policies won't cover natural disasters or civil unrest.

eg Why would an insurance company offer insurance to a house built in a known flood zone.

Also a lot of cheaper travel insurance policies don't cover many pre-existing medical conditions or accidents that happen under the influence of alcohol or drugs or bankruptcy of hotels and airlines

If all the insurance policies covered everything, the premiums would be so high nobody could afford them.

I am not sticking up for insurance companies, but it is a business not a charity and some how they have to pay for their fancy head offices and well paid salesman etc

[pisico]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

Indeed ! however, be patient with them. OCD is not easy to control.

They cannot see that no insurance policy will ever cover ACTS of GOD or Civil Unrest. All they can do to blame the object of their OCD.

[ramrod711]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

Shut up because Bob says so, only Bob gets to make statements about people in positions of power without providing proof. Bob, if I wanted to waste the time I could provide many idiotic, unsubstantiated quotes from your posts. You shut up.

[Robby nz]

So one court says the insurance company should pay the next says they don't have to, all up to the next court then.

But hay what outfit wouldn't try to avoid paying out nearly 4 billion if they didn't have to.

I suppose the next step is that someone tries to recover as much as possible from the arsonist (s).

Could be interesting if it comes down to who incited them to arson.

The honorable ex MP Khun Nattawat has already said that his "Each bring a bottle I have a million ltrs of gasoline" comment was only a joke, so he couldn't be responsible if he was only joking.

[spidermike007]

This is what insurance companies do. Weasel their way out of paying claims. Was the court compromised, is the big question.

[Carib]

If there are any doubts ...

Edited October 11, 2014 by Carib

[Phatcharanan]

His face reminds me of a satellite dish.

[ldnguy]

If you want good insurance cover that actually pays out make sure it is a foreign owned company, not Thai.

Is that a joke. Many/most insurance companies all over the world try to avoid paying claims.

[Chicog]

Deves is owned by the Crown Property Bureau. 'Nuff said.

Yes I was a little surprised that this story made it's way to the news and wasn't covered up.

The end of the day it's a company set up to enrich it's rich shareholders and not to provide insurarnce when their policy holders need it.

As most of them are.

[Colabamumbai]

Terrorism, are all shopping malls insured against terror? They should put up signs in shopping malls warning people to be vigilant and look out for acts of terror. I suggest airport scanners at every entry point, cars checked for bombs with mirrors atachd to a pole, the wearing of sunglasses, veils, hats, ski masks banned.

That is ok but we have your photo on every corner in T'land. Coming and going.

[fab4]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

I remember at least one gentleman shouting from a stage right in front of Central world days earlier, that they would turm Bangkok in a sea of fire if the army dared to crack down on them.

I recall another gentleman shouting from that same stage that every red shirt should bring a bottle of gasoline with them on their visit.

Quite a coincidence that Bangkok, and especially the place right at their back, turned into sea of fire. Don't you think so?

Early onset of Alzheimers or just lying to appeal to the usual suspects on here?

The speeches you refer to were made by Arisman Pongruangrong at Kohn Khaen on January 29th 2010 (a rhetorical speech about what could happen if a crackdown on the UDD by the army occurred - which the army eventually did carry out, some 4 months later) and Nattawut Saikua from the stage in Bangkok on May 19th which was a warning of what could happen if the army carried out a coup d'etat.

Perhaps next time your recollections will be nearer the truth.

Edited October 11, 2014 by fab4

[TheCruncher]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

I remember at least one gentleman shouting from a stage right in front of Central world days earlier, that they would turm Bangkok in a sea of fire if the army dared to crack down on them.

I recall another gentleman shouting from that same stage that every red shirt should bring a bottle of gasoline with them on their visit.

Quite a coincidence that Bangkok, and especially the place right at their back, turned into sea of fire. Don't you think so?

Early onset of Alzheimers or just lying to appeal to the usual suspects on here?

The speeches you refer to were made by Arisman Pongruangrong at Kohn Khaen on January 29th 2010 (a rhetorical speech about what could happen if a crackdown on the UDD by the army occurred - which the army eventually did carry out, some 4 months later) and Nattawut Saikua from the stage in Bangkok on May 19th which was a warning of what could happen if the army carried out a coup d'etat.

Perhaps next time your recollections will be nearer the truth.

Nathawut seems do have been very vocal in that regard, because he said the same also on 27th of January in Chantaburi.

If someone threatens so many time to burn down Bangkok, he should be given credit for it. Don't you think so ?

Edited October 11, 2014 by TheCruncher

[CUNJU]

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Jatuporn and that Dubai idiot should be paying the bill as well. alt=thumbsup.gif>

Why you have proof they did it? If so show it or shut up.

who else can u blame? wake up and quiet please