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April 19, 2011

Insurance Reforms Not Investor-Friendly

Bangkok Post, Corporate Counsellor Column

Reports have circulated of life insurance policyholders being defrauded by unscrupulous insurance agents. The good news is that under recent amendments to the Life Insurance Act, policyholders are now being given more protection. The bad news is that restrictions on foreign ownership, which were rejected amid much controversy with respect to the Alien Business Act, were nonetheless incorporated into the new legislation. This article discusses both the positive and the negative aspects of the amended law.

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John Fotiadis