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Court spares Office of Insurance Commission in Bt40-billion lawsuit

20 Sept 22:28 Key points summarised by AI

The Central Administrative Court dismissed a Bt40 billion lawsuit filed by Syn Mun Kong Insurance against the Office of the Insurance Commission (OIC).
The lawsuit challenged the OIC's 2021 order that prohibited Syn Mun Kong from canceling its 'COVID 2 in 1' insurance policies, which the company sought to cancel due to significant financial burdens.
The OIC issued the ban to prevent widespread panic among policyholders and deter other insurers from similar actions, ultimately protecting 16 million COVID insurance policies.
The court's ruling highlighted that allowing Syn Mun Kong to evade compensation would establish a dangerous precedent for insurance companies to renege on their commitments.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.