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Thai regulator probing possible fraud in COVID-19 claims
COVID-19 claims in the country have jumped ten times since last year.
Thailand’s Office of Insurance Commission (OIC) has said it is investigating possible insurance fraud after a surge in COVID-19 related claims, according to media reports.
Claims submitted on COVID-19 insurance policies in the country have risen ten times since 2020, prompting the regulator to look into possible fraud.
The number of COVID-19 policyholders stood at 13.8m with total premiums of THB5.9bn ($184m) as of the end of April 2021, according to the OIC, with pandemic-related claims for that month rising to $52m (THB1.7b) from $5.2m (THB170m) in 2020.
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