INSURANCE | Staff Reporter, Thailand

Thailand unveils insurance policy for tourists

Premiums start from $13 per trip, up to seven days.

The Tourism Authority of Thailand (TAT) inked deal with Muang Thai Insurance, Krungthai Panich Insurance, and South East Insurance to provide an insurance policy for foreign tourists which will be called Thai Travel Shield, reports Bangkok Post.

The new insurance scheme aims to boost foreign tourists’ confidence in safety whilst in Thailand for travel, TAT governor Yuthasak Supasorn said.

Thai Travel Shield will be an online insurance package which will provide coverage of up to $63,000 (THB2m) with premiums starting from $13 (THB400) per trip, up to seven days. Tourists may avail the plan online before traveling to Thailand through Mastercard, Visa, Union Pay or AliPay for premium payment, Keerati Phanitchiva, chief executive of Krungthai Panich Insurance, said.

The insurance plan will then be active for 24 hours in a day once after they enter the immigration process. They will be assisted by call centre staff that can speak 40 languages to assist in times of accidents or even death until they leave Thailand.

On its kick-off year, the scheme is expected to penetrate 1% or insurance policies that will be availed by about 100,000 free independent travelers (FIT) as Thailand has a market of about 10 million FITs.

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