Raise the level of early warning signals, take care of foreigners selling insurance in the country

Insurance Business Sector" join forces to drive the insurance system, raise the level of sending early warning signals, take care of foreigners selling insurance in the country, and invest in Vayuphak Mutual Fund. Mr. Chuchat Pramulpol, Secretary-General of the Office of Insurance Commission (OIC Secretary-General), chaired the 2nd Insurance Executives Meeting (OIC Meets CEO 2024) in 2024, together with the Thai Insurance Association, the Thai Life Assurance Association, the Thai General Insurance Association, and OIC executives, aiming to develop standards and elevate the roles of actuaries and auditors, elevating the standards of insurance policy approval, and practices related to health insurance. Establishing a standard Service Level Agreement (SLA) for insurance business services, submitting data in the IBS system, upgrading and increasing the efficiency of early warning signals with the EWS system, submitting insurance data into the mandatory motor insurance data reporting system, taking care of gro ups of individuals/foreign companies selling insurance in Thailand without a license to operate an insurance business in Thailand, in order to set measures to prevent and solve problems that occur so that people do not suffer and are damaged from falling victim to the actions of groups of individuals or foreign companies that do not have a license to operate an insurance business in Thailand. In addition, the meeting also aimed to drive the insurance business in new dimensions, namely: 1. Government financial promotion measures, 'Vayupak Mutual Fund' to support the country's capital market; 2. Government financial promotion measures, the 'Intelligent Finance' project to elevate Thailand to become a global financial center; 3. Amending announcements or advertisements that violate or fail to comply with the Life/Non-Life Insurance Act; 4. Supervision of group insurance companies (Group Wide Supervision); 5. Quality control in offering insurance products by insurance intermediaries. The 2nd OIC Meets CEO 2024 Insurance Executives Meeting this year has cooperation from the insurance business sector. It is a forum for brainstorming and cooperation between the OIC and the insurance business sector to jointly determine the direction for driving and developing the Thai insurance industry in a tangible way. Source: Thai News Agency

  • admin

    Related Posts

    Thai stocks closed this morning up 8.96 points.

    The Stock Exchange of Thailand closed the morning session at 1,424.37 points, up 8.96 points (+0.63%), with a trading value of approximately 26,367 million baht.

    In the morning trading, the index rebounded slightly, with a low of 1,419.94 points and…

    Thai stocks closed this morning up 8.96 points.

    The Stock Exchange of Thailand closed the morning session at 1,424.37 points, up 8.96 points (+0.63%), with a trading value of approximately 26,367 million baht.

    In the morning trading, the index rebounded slightly, with a low of 1,419.94 points and…