The Thailand Office of Insurance Commission (OIC) has revoked the non-life insurance broker licence of Bandid Champakhaem after finding he collected compulsory motor insurance premiums from Khon Kaen University students but failed to arrange the insurance cover or remit premiums to the insurer. The revocation order also bars him from acting as, or applying to be licensed as, a life or non-life insurance agent or broker for five years from 30 June 2025. The case followed complaints from students who paid for compulsory motor insurance and vehicle tax renewals at a desk he operated at a service station inside the university, where he issued provisional receipts in the name of Srikrung Broker Co., Ltd. OIC officials in Khon Kaen assisted affected students with complaints to police, with 57 victims reporting alleged fraud and offences under the Non-life Insurance Act; Srikrung Broker arranged compulsory motor insurance policies for all 57 victims on the same day. OIC staff notified allegations including conduct causing or potentially causing damage to insureds under section 76/1(6) and conduct assessed as insurance fraud under section 108/3, with the criminal case to proceed through the investigating officer. Separately, the OIC and industry associations are developing an approach to curb premium misappropriation by intermediaries, including requiring premium payments to be transferred directly to insurers’ accounts; where individual agents or brokers accept cash, insurers would need controls to ensure remittance within 24 hours, terminate appointments for non-compliance, and report cases to the OIC for recording in an insurance fraud database.

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