You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

April 19, 2011

Insurance Reforms Not Investor-Friendly

Subscribe to Updates
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.

Download Full Article
Related Professionals
John Fotiadis
Email

Industries

Insurance

Practices

Corporate/M&A

RELATED INSIGHTS​ 

December 21, 2018
Thailand’s Office of Insurance Commission (the OIC) has issued two sets of requirements—collectively called the OIC Notifications Re: Conditions Relating to Issuing and Offering Insurance Policies of Insurance Companies, and Duties of Non-life Insurance Agents, Brokers and Banks 2018 (the Notifications)—imposing practical new requirements on life and non-life insurance and reinsurance companies in Thailand.
Read More
September 11, 2018
Myanmar’s Insurance Business Regulatory Board has recently announced a program of reform for Myanmar’s insurance sector, expected to allow foreign insurers to do businesses in Myanmar in the very near future.The program of reforms is expected to open the following activities, among others, and within limited conditions, to foreign insurers:
Read More