The Thailand Office of Insurance Commission (OIC) summoned an insurer to formally explain public complaints about changes to health insurance coverage conditions and premium rates that have been circulating on social media, and instructed the company to stop any ongoing actions that could affect policyholder rights. Senior management, including the chief executive officer, presented information on product development, risk management, claims cost management, the number of affected policyholders, and communications with policyholders regarding benefit and premium adjustments. The OIC highlighted issues including the clarity and appropriateness of information provided during the sales process, ensuring premiums are aligned with risk, and managing expectations for policyholders with high sums insured, including potential implications for the firm’s standing under the Early Warning System (EWS). The insurer must submit a concrete remediation plan with targets to reduce complaints, certified by its insurance product committee, and report to the OIC by 30 July 2025 for further supervisory consideration.
Thailand Office of Insurance Commission 2025-07-23
Thailand Office of Insurance Commission orders insurer to halt disputed health insurance premium and coverage changes and submit remediation plan
The Thailand Office of Insurance Commission (OIC) summoned an insurer to address public complaints about changes to health insurance coverage and premiums, instructing the cessation of actions affecting policyholder rights. Senior management discussed product development, risk management, and communication issues, with the OIC emphasizing clarity in sales information and premium-risk alignment. The insurer must submit a remediation plan by 30 July 2025 for further supervisory review.