Thailand to implement National Disaster Insurance System by 2026

The Thai government aims to finalize the National Disaster Insurance System by September 2026, with full implementation expected in October 2026. The initiative, supported by the Cabinet, involves the government purchasing insurance to cover approximately 30 million households against three types of disasters: floods, storms, and earthquakes.

Under the proposed system, initial housing compensation for floods will be 10,000 baht per household, while storms or earthquakes will provide 5,000 baht. Total compensation for housing damage can reach up to 100,000 baht per household, with payments processed within 15 days. In the event of a death related to these disasters, the benefit is set at 2,000,000 baht per person.

The government will cover annual insurance premiums, estimated at approximately 15.5 billion baht. Officials noted that this cost is lower than the annual budget currently spent on direct disaster relief and emergency aid. The Department of Disaster Prevention and Mitigation and the Office of Insurance Commission are collaborating to expedite the system to improve risk management and ensure faster compensation for citizens.