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May 24, 2016

PLC Insurance and Reinsurance Multi-Jurisdictional Guide 2016/17 – Thailand

Practical Law Company

Insurance and Reinsurance, published by Practical Law Company, provides a Q&A-style overview of insurance and reinsurance law in 30 jurisdictions around the world. Lawyers at Tilleke & Gibbins wrote the Thailand chapter of the guide, which covers market trends; relevant legislation such as the Life Insurance Act, Non-Life Insurance Act, and the Foreign Business Act; the governance of insurance contracts by the Thai Commercial and Civil Code; operating restrictions on providers and intermediaries; restrictions on ownership or control; ongoing requirements for authorized or licensed entities; penalties for noncompliance; reinsurance monitoring and disclosure requirements; policies and claims including time limits; taxation of providers under the Revenue Code; dispute resolution; and proposals for reform including liberalization of the market, strengthening capital requirements to protect policyholders, and harmonization with regional and international governance standards.

Practical Law Company is a legal publishing company which provides legal know-how for business lawyers. Tilleke & Gibbins also contributed the Vietnam chapter of the guide.

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