The collapse of a building under construction in Bangkok on March 28, 2025, following a powerful earthquake in Myanmar has sparked widespread public concern about the potential financial impact on local insurers and insurance implications. The construction site was insured under a contractors’ all risks (CAR) policy, and initial reports and market speculation suggest that the event could cause serious financial strain for the domestic insurance industry. Nevertheless, local insurers connected to the site of the collapse may face limited exposure for two main reasons: Reinsurance significantly mitigates local insurers’ exposure. According to market sources, 95% of the CAR coverage for the construction site was reinsured by foreign reinsurers. This is standard risk-management practice for large-scale infrastructure and construction projects, allowing local insurers to participate in underwriting while transferring most of the liability offshore. As a result, the direct financial impact on domestic insurers is expected to be minimal, subject to the reinsurance contracts and any potential claims disputes. Potential exclusions may apply. The Thai General Insurance Association has issued an interim public advisory noting that coverage under the CAR policy may be limited or excluded altogether, pending a full investigation. CAR policies often contain exclusions for certain events, depending on how the policy is worded and the actual cause of the incident. A thorough factual and forensic investigation will be necessary to determine the true cause and assess policy applicability. For further information or assistance in reviewing CAR or project insurance coverage in Thailand, please contact Athistha (Nop) Chitranukroh at [email protected], Witchupong Chittchang at [email protected], or Ajaree Trachukul at [email protected].

Thailand is continuing on its path toward comprehensive legislation to address climate change. In November 2024, the country’s Ministry of Natural Resources and Environment (MNRE) launched a public hearing on a new draft Climate Change Act following revisions made after an earlier hearing on a previous draft of the act. The revised version strengthens Thailand’s climate policy framework by introducing the Carbon Border Adjustment Mechanism (CBAM), modeled after the EU’s system of the same name. The new draft also restructures the planned Emissions Trading Scheme (ETS) and enhances carbon-tax provisions. These initiatives aim to minimize carbon leakage, promote fair competition for domestic industries, and encourage lower greenhouse gas (GHG) emissions. As of March 2025, the Department of Climate Change and Environment, under the MNRE, is awaiting the Ministry of Finance’s input on the draft act’s establishment of the Climate Fund, a fund to support business innovation in responding to climate change. After incorporating this feedback, the department will submit the refined draft for cabinet approval, expected in 2025. The legislation will then undergo Council of State review, with implementation expected in 2026. Key Provisions The draft Climate Change Act contains a number of provisions that will affect businesses. Some of the most relevant are discussed below. Mandatory ETS The ETS is a mandatory mechanism designed to control GHG emissions by setting emissions caps for designated industries in alignment with national targets. Under this system, businesses receive emissions allowances allocated through free allocation or auctions. This scheme incentivizes emissions reductions by allowing businesses that emit less than their allocated allowances to sell their surplus allowances. The specific business sectors covered by the ETS have not yet been identified in the draft act, as details are expected to be in subordinate legislation. However, it is anticipated that the sectors will align

On February 6, 2025, the prime minister of Vietnam, Pham Minh Chinh, chaired an online meeting to review the progress of Vietnam’s digital transformation agenda. The meeting assessed achievements under the National Digital Transformation Program and Project 06 on the development and application of population data, electronic identification, and authentication for national digital transformation for the period 2022-2025, with a vision to 2030, approved by the prime minister in 2022. The meeting also outlined key legislative and regulatory priorities for 2025, as set forth in Notice No. 56/TB-BPCP issued by the Government Office on February 23, 2025 (Notice 56). One of the central focuses of the 2025 digital transformation agenda is the development and issuance of laws and regulations governing digital technology, data management, and cybersecurity. Below are the key legal developments provided in Notice 56 that stakeholders should anticipate in the coming months. 1. Law on Digital Technology Industry The Ministry of Information and Communications (MIC) has been tasked with finalizing the draft Law on Digital Technology Industry (DTI Law) for submission to the National Assembly at its 9th session in May 2025. This law is expected to establish a comprehensive legal framework for the digital technology sector, addressing regulatory gaps in emerging fields such as artificial intelligence (AI), Internet of Things (IoT), cloud computing, big data and platform services to promote innovation, ensure data security, and support the growth of the digital economy in Vietnam. Concurrently, the MIC will expedite the issuance of guiding decrees to ensure the swift implementation of the DTI Law once enacted. 2. Law on Personal Data Protection and regulations guiding implementation of Data Law The Ministry of Public Security (MPS) is making efforts to finalize the long-anticipated Law on Personal Data Protection (PDPL)—data protection is currently governed by Decree No. 13/2023/ND-CP on

Tilleke & Gibbins has contributed the Cambodia, Myanmar, Thailand, and Vietnam chapters to Data Protection and Cybersecurity Regulation in Southeast Asia, a wide-ranging guide published by Drew Network Asia (DNA). The resource provides a comprehensive overview of data protection and cybersecurity laws across the region, offering practical insight into compliance requirements and regulatory developments affecting organizations that handle personal data or operate digital services in Southeast Asia. The guide begins with a regional overview, including the broader ASEAN context and cooperation initiatives. Jurisdiction-specific chapters follow a consistent structure—covering data privacy and governance obligations, security requirements and breach notification, outsourcing and cross-border data transfers, and broader accountability and compliance measures. This format allows readers to compare regulatory approaches across markets such as Brunei, Indonesia, Malaysia, the Philippines, Singapore, and others. In addition to the country chapters, the publication addresses cybersecurity and privacy engineering challenges, providing guidance for organizations and outlining obligations applicable to data controllers, processors, and intermediaries. A dedicated section on data breach management across ASEAN examines notification requirements, response considerations, and practical steps for managing incidents in a regional or global context. The guide is intended to serve as a practical reference, and the authors note that specific legal requirements may vary depending on sector, processing activity, or evolving legislation. Readers seeking more detailed advice can contact the practitioners listed in each chapter. The full guide is available for download using the button below or directly from the DNA website.