The Thailand Office of Insurance Commission (OIC), working with the Economic Crime Suppression Division, announced the arrest of individuals linked to Mycar Service Plus 1989 Co., Ltd. for allegedly operating as a non-life insurer without a licence by selling motor insurance-like cover to used car buyers. Authorities cited nearly 500 affected victims and total payments of more than THB 30 million. The case followed complaints from customers who bought used cars from dealerships in Bangkok’s Bang Khae area and in Nonthaburi and were sold “car health insurance/used car quality assurance” contracts. The company described the product as a warranty, offering compensation for specified parts or engine deterioration up to THB 300,000 and charging premiums ranging from THB 9,000 to THB 100,000, distributed through more than 20 partner dealerships and a network of over 200 garages. The OIC assessed the arrangements as insurance under the Civil and Commercial Code and filed a criminal complaint on 21 May 2025; searches on 1 September 2025 seized self-produced policy and marketing documents and identified money flows of over THB 30 million from 259 policyholders and 52 partner dealerships into the personal accounts of three directors, with no claims reserves or risk fund. Charges include acting as an insurer without authorisation under the Non-life Insurance Act and offences under the Computer Crime Act. The OIC warned consumers to purchase insurance only from entities licensed by the OIC and to verify insurer, intermediary and policy information through official OIC channels.
Thailand Office of Insurance Commission 2025-09-08
Thailand Office of Insurance Commission joins police in arresting Mycar Service Plus 1989 over unlicensed motor insurance scheme exceeding THB 30 million
The Thailand Office of Insurance Commission and the Economic Crime Suppression Division announced arrests linked to Mycar Service Plus 1989 Co., Ltd. for allegedly operating as a non-life insurer without a license, affecting nearly 500 victims with payments over THB 30 million. The company sold contracts deemed insurance under the Civil and Commercial Code, leading to charges under the Non-life Insurance Act and Computer Crime Act. The OIC advises consumers to verify insurance entities and policies through official channels.