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California tragedy: Insurance firms told to pay students’ families promptly

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California tragedy: Insurance firms told to pay students’ families promptly

By The Nation

 

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BANGKOK: -- Thailand’s Office of Insurance Commission has ordered insurance firms to quickly compensate the families of the two Thai students who died in a car accident in California last month.
 

South Florida University postgraduate students Thiwadee Sangsuriyarit, 24, and Bhakapon Chairatanatongporn, 28, were killed when their rented car veered into a ravine near Kings Canyon National Park. 

 

Bad weather and a strong current in the river at the base of the ravine prevented their bodies from being seen or recovered for 12 days. 

 

Suthipol Taweechaikarn, the commission’s secretary general, said on Friday that Bhakapon held three combined life-and-accident insurance policies with AIA Thailand, together worth Bt834,000. 

 

Thiwadee had a Bt1-million life-insurance policy from Allianz Ayudhya Assurance, he added. 

 

He said the commission had urged the two insurers to compensate their families promptly.

 

Source: http://www.nationmultimedia.com/detail/national/30323515

 
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-- © Copyright The Nation 2017-08-11

Will there not be an autopsy - what if the Driver was under the influence, then the policy would be void

7 minutes ago, canopus1969 said:

Will there not be an autopsy - what if the Driver was under the influence, then the policy would be void

Don't let details get in the way of emotions and brownie points for the ones making the inane orders. 

10 minutes ago, canopus1969 said:

Will there not be an autopsy - what if the Driver was under the influence, then the policy would be void

If there is, and drugs or alcohol are found, they will say it's farang drugs and alcohol, so that doesn't count. 

16 minutes ago, canopus1969 said:

Will there not be an autopsy - what if the Driver was under the influence, then the policy would be void

They have been in the water for two weeks do you really think their will be any evidence of drugs left in the bodies. By the time they are removed more than likely only bones left as this is very fast running water and most of the bones washed away

18 hours ago, Father Fintan Stack said:

Money Number One. 

Yeah ok. Because you or your family wouldn't want the policy paid asap to help with either going to the location for closure or the cost of repatriating the bodies. 

 

18 hours ago, moe666 said:

They have been in the water for two weeks do you really think their will be any evidence of drugs left in the bodies. By the time they are removed more than likely only bones left as this is very fast running water and most of the bones washed away

 

18 hours ago, webfact said:

Bad weather and a strong current in the river at the base of the ravine prevented their bodies from being seen or recovered for 12 days. 

 

Seems like the bodies are still intact according to the news, let's hope there will be a proper autopsy and investigation to bring proper closure.

"Thailand’s Office of Insurance Commission has ordered insurance firms to quickly compensate the families of the two Thai students who died in a car accident in California last month."

 

What??? No refund on the amulets that were guaranteed to work any place in the world?

This little niche bureau of the sprawling Thai public sector has suddenly found its 15 minutes of fame. It emerges from many years of anonymity to issue an order to appear strong and patriotic. This is despite the fact that the proper procedures have not been carried out, confirmation of death, cause of death, circumstances surrounding death, documentation to support this, etc.

 

Indeed we only have the uncle's word that all these life assurance policies exist and are valid.

 

No need at all to put this into the public arena. If this department feels the insurance companies are behaving unethically, it just needs to contact them directly.

and when does an insurance company ever listen to a "told to pay"?

but like briggsy has said, some useless drain on the countries money has stuck their head up to squark.

considering how many expats or tourists die in T'land, I've never heard them squark about insurance payments for those unfortunates.
(assuming they had insurance)

Yeah ok. Because you or your family wouldn't want the policy paid asap to help with either going to the location for closure or the cost of repatriating the bodies. 

He is a Thai hating GOM you see it in all his posts. He must have been stung a few times.

Asking the insurance to pay out to help with the repatriation is the right thing to do.
26 minutes ago, robblok said:


He is a Thai hating GOM you see it in all his posts. He must have been stung a few times.

Asking the insurance to pay out to help with the repatriation is the right thing to do.

No, it isn't. Life assurance companies are not donors to a gofundme site. They have a legal fiduciary duty to their shareholders or mutual fund members to conduct business in an efficient manner and they have contractual obligations to beneficiaries which they will be expected to carry out in a timely manner.

 

This does not include making payments to people before any of the necessary documentation is received simply because they have been pressured by one small government bureau of which there are hundreds and hundreds in Thailand.

 

I would not be surprised if the secretary-general of the Office of the Insurance Commission had not even contacted the relevant insurers but just announced some made-up stuff to the press.

I've been to Kings Canyon.  We're talking Sequoia redwoods and aren't too far from Yosemite. The result is a winding mountain road that invites accidents.

 

Given the number of cars that must be going off the roads in the Sierras, I'm surprised it took so long to notice the wreck. Bad weather and a strong river current aren't anything new. I'm not fault finding with the National Park Service.  I am amused (no disrespect to the deceased students) that scientists in Pasadena, California know more about what's on the surface of Mars than park officials on the western slopes of the Sierra Nevadas in California know about what vehicles are in Kings Canyon Nat'l. Park.

 

Perhaps all cars should come equipped with something like LoJack, a distress beacon that goes off along with air bags in event of a crash or at the command of the driver.

19 hours ago, canopus1969 said:

Will there not be an autopsy - what if the Driver was under the influence, then the policy would be void

...or if it was a suicide pact...

...or if the driver was texting while driving...or looking for Pokamon...or...the list is endless, and insurance companies in the real world would want some answers before paying out

1 hour ago, Briggsy said:

No, it isn't. Life assurance companies are not donors to a gofundme site. They have a legal fiduciary duty to their shareholders or mutual fund members to conduct business in an efficient manner and they have contractual obligations to beneficiaries which they will be expected to carry out in a timely manner.

 

This does not include making payments to people before any of the necessary documentation is received simply because they have been pressured by one small government bureau of which there are hundreds and hundreds in Thailand.

 

I would not be surprised if the secretary-general of the Office of the Insurance Commission had not even contacted the relevant insurers but just announced some made-up stuff to the press.

Urging them to pay promptly is does not equal pressure in my book.

After my own drawn out bullshit with insurance companies in an otherwise clear cut and 100% documented case I feel empathy toward this particular situation:

Insurance has no obligation to pay anything as Yet.Its not an Air Crash.


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On 8/11/2017 at 1:56 PM, webfact said:

Suthipol Taweechaikarn, the commission’s secretary general, said on Friday that Bhakapon held three combined life-and-accident insurance policies with AIA Thailand, together worth Bt834,000. 

 

Thiwadee had a Bt1-million life-insurance policy from Allianz Ayudhya Assurance, he added. 

 

He said the commission had urged the two insurers to compensate their families promptly.

That's a lot of insurance for two students; especially in LoS. I'm sure the insurance companies will do what they need to do without unprecedented interference from the commission.

9 hours ago, robblok said:


He is a Thai hating GOM you see it in all his posts. He must have been stung a few times.

Asking the insurance to pay out to help with the repatriation is the right thing to do.

Thai-hating? The insurance companies are in business, like it or not. They (should) have a procedure to follow and should be expected to follow that, not the orders of some two-bit Thai government department, which I can assure you, is usually fast asleep on their job.

Autopsy, death certificate, the insurance companies have to follow the

proper procedures. As they would around the world.

5 hours ago, Jonmarleesco said:

That's a lot of insurance for two students; especially in LoS. I'm sure the insurance companies will do what they need to do without unprecedented interference from the commission.

I was thinking the same.. I struggled to get 300k for my wife.

 

Kurt

One thing is for sure there will be an autopsy after all this fuss and guess what they really do know how to do it, to the point of cases of 25 years ago have been revisited and the murders caught. Too many questions to answer right now from drugs to murder and everything in between. but it will not be that was Suicide as we see every day in LOS and that is before the bib leave the station.

 

Insurance companies will be the last thing that gets into action as paying out now and then finding out later they where wrong is not an option.

 

Just give it a bit of time and guess what it will not take 3+ years as its doing on Koh Tao and other places or have people set up to take the fall

Accident insurance, I understand, but why life insurance on a student of that age?

 

 

 

Insurance companies are the biggest scam in history. They excel at taking your money but are woefully lacking when it comes to paying out when it's due.

It isn't always easy to get insurance companies to payout here. Always looking for an excuse not to pay.

I know of someone who listed his mother under a life insurance policy through the company he'd worked for. About 2 million baht.

The family had to take the insurance company to court after he died, and it took 6 months to be settled because he'd listed her as beneficiary using her maiden rather than married name.

 

 

Sent from my iPhone using Thaivisa Connect

 

On 12/8/2017 at 9:45 PM, Jonmarleesco said:

That's a lot of insurance for two students; especially in LoS. I'm sure the insurance companies will do what they need to do without unprecedented interference from the commission.

The payout from U.S insurance company will dwarf this thai payout.  Millions of USD.  

21 hours ago, petesc55 said:

Accident insurance, I understand, but why life insurance on a student of that age?

 

 

 

Children support the parents in their golden years

Children support the parents in their golden years

The Parents Pay the Premiums not the Little Princes.?


Sent from my iPhone using Thailand Forum - Thaivisa mobile app
The payout from U.S insurance company will dwarf this thai payout.  Millions of USD.  

Doubt it , looks more Driver Error to most.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

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