Thailand MICE One-Stop Service

In MICE industry, insurance should be considered for both the import/export goods and travelling personnel as the insurance policies will cover any losses or damages that may occur.

Cargo Insurance

Cargo Insurance is offered to protect products or properties transported from sellers to buyers by sea, by air and by mail from any damage caused by an accident. Coverage insurance depends on conditions that the insured chooses to purchase.

Inland Transit Insurance

The insurance covers damage of goods during transit in Thailand. The insured needs to be the owner of the goods as the transporter or hires a logistic company with the vehicle indicated in the insurance.

Types of Insurance Policy

1. All Risk Insurance Policy covers:

Total damage or loss of insured goods or some parts of them caused by accidents or external forces
General Average, including General Average Contribution and Salvage Charges that the insured must pay according to the conventional practice or law

2. Named Risk Insurance Policy covers damage to goods caused by:

Fire, explosion or lightning
Transporting vehicle or insured goods is collided or contacted with other vehicles or something outside the vehicle (including tractor and trailer) or the trailer of the transporting vehicle
Submerged or capsized vessel, plane crash, train derail, vehicle (including tractor and trailer) overturn, veering off the road, bridge or shoulder
Special risks as specified in the policy

Period of Insurance Policy is divided into 2 types:

Time Policy
Voyage Policy

Marine Cargo Insurance

The insurance covers damage while transporting goods from one country to another. Generally, the transportation is handled by cargo ships that carry loads of goods.

Types of Insurance Policy is divided by import/export goods

The insurance for export goods under C.I.F. term and the insurance for import goods under F.O.B. term or C.F.R./C & F covers all the routes through from the seller’s factory to the buyer’s factory.
The insurance for export goods under F.O.B. term or C.F.R./C & F covers from the start at the factory to the delivery of the transporter at the port of departure

Tip Conditions on Foreign Trade are currently applied into 3 types:

	Seller	Buyer
F.O.B. (Free on Board)	Responsible for delivering the goods to the ship at the port of loading	Responsible for the freight and insurance cost
C.F.R./C&F (Cost and Freight)	Responsible for delivering the goods to the ship at the port of loading and freight	Responsible for insurance cost
C.I.F. (Cost Insurance and Freight)	Responsible for delivering the goods to the ship at the port of loading, including freight and insurance cost

Required Documents for Cargo Insurance

Letter of Credit or L/C
Invoice
Bill of Lading or B/L, i.e. in case of transportation by sea or Air Waybill (AWB)
Packing List (if any)

Personal Insurance

Travel Accident Insurance – TA

The insurance provides coverage for the insured person in case of having an accident that causes injury and medical expenses or loss of organ(s), hand(s), foot (feet), eyes or life. The accident must occur during the travelling period specified in the insurance policy.

Types of Travel Accident Insurance

Travel Accident Insurance

The policy provides AI Insurance that covers the death of an insured person, permanent loss of organ(s) or physical injury that requires medical expenses resulting from an accident, including the case that the insured person was murdered or physically assaulted. The insurance, however, covers only the time of travelling, both in Thailand or abroad according to the routes specified in the policy (i.e. covering the whole journey of an insured person as an individual or a group)

Travel Accident Insurance for Tourism Business and Guide

Travel Accident Insurance for tourists and guides while travelling provides coverage for loss of life, dismemberment or total disability with the summed rate 1,000,000+ baht per person and for injuries 500,000+ bath per person. The insurance must be valid more than 1 year from the day of application for the Travel Agency Business License.

Factors to Set Up Premium Rates

Amount of Coverage Premium
Age of the Insured Person
Period of Travelling (Days)

Principles of Compensation Payment are divided into 2 cases:

1. In case of death or loss of hand(s), foot(feet) and eye(s), the insurance company will give the compensation as a sum of money to the insured or heir as follows:

Loss of life: Receive 100% of the sum insured
Loss of both hands, feet or eyes: Receive 100% of the sum insured
Loss of one hand, foot or eye: Receive 50% of the sum insured

2. In case of injury, the insurance company will give the compensation according to the actual expenses but not exceeding over the sum insured

Tip At present, many insurers have developed types of Travel Accident Insurance by adding new coverage as optional factors such as:

Loss of, damage to or delay of luggage
Cancelation, termination or delay of flights, loss of personal allowances, loss of travelling documents
Expenses on moving and returning the insured person to the home country for medical treatment
Transportation of the insured person’s deceased body back to the home country

Travel Insurance

The insurance covers the insured person while travelling from one accommodation to another temporarily for leisure, family visit, meeting, seminar, etc.

Basic Insurance

The insurance provides coverage for the insured person when having an accident that causes injury, medical expenses, loss of organ(s) or life. The accident must occur during the travelling period specified in the insurance policy.

In case of death or loss of hand(s), foot(feet) and eye(s), the insurance company will pay the compensation as a lump sum of money to the insured or heir
In case of injury, the insurance company will pay the compensation according to the actual expenses but not exceeding over the sum insured.

Accidental Insurance

The insurance provides coverage for the insured person in case of having an accident and physical injury. If the injury causes medical expenses or total disability, loss of organ(s) and death, the insurance company will pay medical expenses or give the compensation to the insured person in case of losing organ(s), disability or death.

Basic Coverage

The insurance provides coverage for the insured person 24 hours across the world. This includes a sudden accident caused by external factors that the insured person does not intend or wish, resulting of death, loss of organ(s), disability or physical injury with medical treatment. The policy also covers the case that the insured person was murdered or physically assaulted.

Coverage under Insurance

AI: Coverage for loss of life, hand(s), foot(feet) and eye(s) or total permanent disability
AII: Coverage for loss of life, hand(s), foot(feet) and eye(s), finger(s), deaf, dumb or total permanent disability or partial permanent disability

Tip More premiums can be added such as total temporary disability, partial temporary disability, medical expenses

Health Insurance

The insurance covers medical expenses that the insurance company agrees to pay for, resulting of illness from diseases or injury from accidents.

Types of Health Insurance

Group Accidental and Health Insurance
Individual Accidental and Health Insurance

Insurance Coverage

Coverage when the insured person is admitted in a hospital due to injury caused by an accident or illness. The compensation includes hospital-room charges, meals, general services or expenses in case of emergency medical treatment after an accident
Expenses resulting from surgery and consultation fees on the surgery
Expenses resulting from the doctor’s care
Expenses for treatment at a clinic or a hospital’s Out Patient Department
Expenses for child delivery
Expenses for dental care
Compensation insurance resulting from services by a special nurse while staying at a hospital or home according to the doctor’s suggestions

Coverage Exception

General health insurance does not cover medical treatment unrelated to injury or sickness such as sterilisation, plastic surgery, weight loss, rest, including treatment of neurosis, venereal disease, eye check.

Factors of Insurance Premiums

Age
Gender
Health
Career
Way of living

Tip: Regarding Group Insurance, it is necessary to consider the number of insured persons. If there are many insured persons, the insurance risk will be increased, making the premium cost lower.

Principles of Compensation Payment

The compensation payment follows the principles according to actual damage but not exceeding over the sum insured.

Lists of Insurance Company

Life Insurance Company

Non-Life Insurance Company

Office of Insurance Commission (OIC)

OIC is an independent government organization with legal entity that does duties according to policies on managing and developing insurance business, including protecting insurance privileges of people in Thailand.

22/79 Ratchadaphisek Road, Chantharakasem Sub-District, Chatuchak District, Bangkok 10900
Office Hours: Mondays – Fridays, 8.30am – 4.30pm
Call Center 1186
+66 2515 3999
+66 2515 3970
info@oic.or.th
Website
https://www.facebook.com/PROIC2012

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