Thai association says Myanmar–Thailand quake claims may reach $1.53b

This is up from the $920m already filed from 150,000 claims.

Insurance claims from the powerful earthquake that hit Myanmar and northern Thailand in March may climb to $1.53b (THB50b), according to the Thai General Insurance Association (TGIA) as reported by the Bangkok Post. 

This is up from the $920m (THB30b) already filed from 150,000 claims.

The claims process is expected to continue until September. 

TGIA president Somporn Suebthawilkul said the event had a significant impact on both the public and the insurance sector, increasing awareness of the need for protection against natural disasters. 

As a result, he expects stronger demand for earthquake-inclusive coverage and personal property insurance.
He also warned that the rising risk could lead to higher premiums for catastrophe-related policies later in the year.