Thailand floats $15bn reinsurance cover for new cat fund
Thailand is looking to establish a 50bn baht ($1.62bn) catastrophe fund that could seek to buy a giant reinsurance programme up to a limit of 500bn baht ($16.2bn) from international carriers.
The fund would provide natural disaster cover to households, small and medium sized enterprises (SMEs) and industrial risks.
The country is continuing to come to terms with last year's devastating floods, which are estimated to have resulted in an insurance industry loss of $15bn or more.
The Thai Office...
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