Bangkok, "Julapan" prepares to call the secretary of the OIC to discuss closing loopholes in the law after the Sin Mung Kong Insurance PCL case. Ready to discuss with the Prime Minister Concerned about Covid insurance debt as high as 30,000 million baht
Mr. Chulaphan Amornvivat, Deputy Minister of Finance, spoke about the case of Sinmunkong Insurance PCL. that he had given the company an opportunity to submit a business rehabilitation plan But the plan did not pass shareholder resolution. Currently, there are 700,000 outstanding claims worth 32,000 million baht. There are still 1.87 million insurance policies in effect. Currently, they are undergoing legal procedures. and transfer policy portfolios that are still in effect to other insurance companies to reduce the impact. If the company is unable to take corrective action, the OIC will raise the level of corrective action further. However, the final mechanism may be a burden on the government that must step in and take action using the national budget. In fiscal year 2024, the government has added money. General Insurance Fund, amount 3,000 million baht
For other insurance policies There are legal mechanisms for transferring to other insurance companies. Don't worry. But what is worrisome is COVID insurance. which represents a debt proportion of 30,000 million baht
In this regard, Deputy Minister of Finance Prepare to discuss with the Secretary-General of the Supervision and Promotion Committee. Insurance Business Operations (OIC) to review regulatory laws to see if there are loopholes or not. And how to go about fixing it? Ready to discuss with the Prime Minister to have orders for further action. However, the idea is to consult with relevant agencies to build confidence in the entire insurance industry. As for the case of increasing the contribution ceiling General Insurance Fund There has not yet been a discussion on this matter.
Source: Thai News Agency