The Thai insurance industry is primarily regulated under the Civil and Commercial Code, the Casualty Insurance Act B.E. 2535 (as amended), the Life Insurance Act B.E. 2535 (as amended), the Insurance Commission Act B.E. 2550, and the Motor Accident Victims Protection Act B.E. 2535 (as amended). Numerous regulations are issued under each of these laws, and the Office of the Insurance Commission (OIC), under the Ministry of Finance, is the primary regulator.Establishment, Shareholding, and Directorship

The business of life insurance today in Thailand is very competitive. Insurance companies advertise heavily via radio, TV, newspapers, websites, billboards, and other media channels, attempting to convince consumers that purchasing an insurance policy is a simple and quick thing to do.

The Report: Thailand 2012, published by Oxford Business Group, provides an in-depth analysis of different sectors of the Thai economy. Tilleke & Gibbins contributed the legal section of the publication, which examines how Thailand’s legal landscape fosters growth and foreign investment.

This chapter provides an overview of the legal system and key laws for foreign companies doing business in Thailand. Presented in a question-and-answer format, the chapter examines the rules governing foreign investment, business vehicles, employment, tax, competition, intellectual property, marketing agreements, e-commerce, data protection, and product liability.