Regulator to bolster disaster risk management

A proposed natural disaster fund would help with national risk management for catastrophic losses that could exceed the government's emergency budget capacity, says Mr Chuchatr.

The Office of the Insurance Commission (OIC) is proceeding with plans to strengthen Thailand's disaster risk management framework through a national disaster playbook and a proposed disaster insurance fund aimed at cushioning the economic impact of future catastrophes.

OIC secretary-general Chuchatr Pramoolpol said the initiative comes as climate-related risks such as severe storms and earthquakes increasingly threaten households, businesses and fiscal stability.