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Bangkok Post
Bangkok Post
Business

OIC assures on insurance

OIC TGH

The Office of the Insurance Commission (OIC) has vowed to tighten its supervision to restore public confidence in the industry, which has been hit by cash crunches during the prolonged pandemic.

While all sectors faced upheaval triggered by the pandemic, the non-life insurance industry has been heavily tested by a continual surge in lump-sum claims for Covid insurance, threatening to bankrupt many local non-life insurers.

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