Bangkok (VNA) – Households in areas declared to be experiencing an emergency disaster will receive an initial flood payout of 10,000 THB (298 USD) within 15 days without having to submit photographic evidence, followed by compensation of up to 90,000 THB for actual losses under a government-funded insurance scheme covering about 30 million households nationwide.
The scheme took effect on October 1. The move came shortly after severe flooding in Bangkok and several surrounding provinces caused extensive property damage, marking a strategic shift from passive relief to proactive financial protection.
Speaking recently at the Department of Disaster Prevention and Mitigation (DDPM), Thai Prime Minister and Interior Minister Anutin Charnvirakul said the programme represented an important step towards establishing a system of “advance financial protection” to help people proactively cope with losses.
The annual insurance scheme provides maximum compensation of 100,000 THB (about 3,000 USD) per incident for damage to homes caused by floods, storms or earthquakes, as well as 2 million THB for each death caused by a disaster.
For storm- and earthquake-related disasters, the initial payout is 5,000 THB, with additional compensation of up to 95,000 THB for damage incurred. Households cut off by flooding for more than seven consecutive days are also eligible for a 10,000-THB payment.
The programme operates under a mechanism in which the Thai Government uses the national budget to centrally purchase insurance from 11 private insurers, coordinated by the Thai General Insurance Association (TGIA).
The mechanism is designed to automatically trigger compensation and shorten the time needed to provide assistance to people in disaster-affected areas, without imposing any costs on households./.
