The Thailand Office of Insurance Commission (OIC) reported its participation in the Asian Forum of Insurance Regulators (AFIR) 19th Annual Meeting and Conference and the 7th Asia-Pacific High-Level Meeting on Insurance Supervision in Kathmandu, Nepal, and highlighted Thailand’s crop insurance scheme as a tool to expand coverage and narrow protection gaps linked to natural catastrophes. The meetings, held 20–22 January 2025 under the theme “Safeguarding Tomorrow: Unifying Efforts to Bridge the Protection Gap and Climate Risk”, brought together insurance supervisors from 11 Asia-Pacific jurisdictions alongside international organisations including the International Association of Insurance Supervisors, the Asian Development Bank Institute, the Organisation for Economic Co-operation and Development and the Global Asia Insurance Partnership. Agenda items included supervisory reform, future-oriented risk-based solvency supervision, regulators’ role in reducing insurance protection gaps, and the development of artificial intelligence and financial innovation in insurance, as well as climate-change preparedness, Nepal’s approach to closing protection gaps, NAIC climate-related strategies and approaches to reducing natural catastrophe protection gaps and strengthening regional resilience.
Thailand Office of Insurance Commission 2025-02-14
Thailand Office of Insurance Commission showcases crop insurance PPP at Asia-Pacific insurance supervisors meetings in Nepal
The Thailand Office of Insurance Commission attended the Asian Forum of Insurance Regulators 19th Annual Meeting and the 7th Asia-Pacific High-Level Meeting on Insurance Supervision in Kathmandu. The meetings addressed bridging protection gaps and climate risk, discussing supervisory reform, risk-based solvency supervision, and regulators' roles in reducing insurance protection gaps. Thailand's crop insurance scheme was highlighted as a tool to expand coverage against natural catastrophes.