Thailand’s Office of the Insurance Commission (OIC) recently issued two notifications—one for life-insurance companies and another for insurance companies—establishing key criteria and requirements for insurance companies to manage risks relating to IT and cybersecurity. The notifications, entitled Notifications Re: Criteria for the Supervision and Management of Risks Relating to Information Technology for Life/Non-life Insurance Companies B.E. 2563 (2020) came into effect on January 1, 2021, and cover eight major aspects of IT risk management as detailed below. IT Governance Insurance companies are required to monitor and manage IT risks and cyber threats in accordance with the size, characteristics, complexity, and context of their business operations, and each company should have at least one director with knowledge of, or past experience in, the field of information technology. IT Project Management Insurance companies are required to develop a written framework for IT project management, covering at least the commencement, implementation, and control of the project, as well as the project closing and post-project auditing. Companies must also appoint a committee for supervising and monitoring IT projects. IT Security Insurance companies are required to institute a written IT security policy, which must be reviewed at least once a year or upon implementing any significant changes. The policy must be approved by the board of directors, or a relevant subcommittee appointed by the board of directors. In outsourcing IT activities to third-party service providers, or entering into any arrangement that allows business partners to connect to or access the company’s IT system, insurance companies are required to specify their own criteria and procedures for the selection of third-party service providers, enter into a written service agreement and a service level agreement with the third-party provider, and conform with other requirements under the notifications. Insurance companies will also be required to comply with the OIC’s forthcoming

On December 23, 2020, the Prime Minister’s Office issued Notification No. 1414/PMO to continue implementing measures to prevent and control the spread of COVID-19 in Laos from the date of issuance to January 31, 2021. This comes amid a recent surge of COVID-19 cases in neighboring countries, and the transmission of the virus to individuals entering Laos. Specifically, the notification mandates the following: Continued suspension of chartered flights from foreign countries/zones where there is local transmission of COVID-19 among the community. Passengers of flights from countries where there is local transmission of the COVID-19 infection are also prohibited from transiting in Laos. Continued suspension of tourist visas for foreign nationals. Diplomats, employees of international organizations, experts, and investors urgently required to work in various projects must obtain the approval of the National Taskforce Committee for COVID-19 Prevention and Control (NTC); follow the prescribed sanitary measures; and have a COVID-19 PCR test certificate issued no more than 72 hours more before boarding the aircraft. When arriving in Lao PDR, these foreign nationals must undergo another PCR test and quarantine for 14 days in an approved location. Continued closure of all traditional and local border checkpoints (which differ from international checkpoints) to people and goods, except when exempted by the government.  Spraying to eradicate germs will be administered per state authorities’ recommendations. Continued closure of all international border checkpoints to the public, except for Lao and foreign individuals who need to enter and exit from Laos and have the NTC’s permission to do so. Goods can be transported into and out of Laos as usual. Prohibition of large entertainment events (e.g., concerts). Private and family events must implement preventive measures based on the NTC’s recommendations. Continued publication and dissemination of materials publicizing the preventive measures and urging the population in Laos to observe these measures. Monitoring of

The latest update to the Cambodia chapter of Thomson Reuters’ Practical Law guide to insurance and reinsurance has been published, written by legal practitioners from Tilleke & Gibbins’ Phnom Penh office.

The latest update to the Myanmar chapter of Thomson Reuters’ Practical Law guide to insurance and reinsurance has been published, written by legal practitioners from Tilleke & Gibbins’ Yangon office. The guide presents a Q&A-style overview of insurance and reinsurance laws and practices in major jurisdictions around the world. The Myanmar chapter of the guide was written by Ross Taylor, counsel; Yuwadee Thean-ngarm, director of the firm’s office in Myanmar; and Nwe Oo, attorney-at-law. The chapter provides information on the following subjects: