Thailand’s Office of Insurance Commission (OIC) has issued Registrar’s Order No. 51/2568, increasing the coverage limits for both compulsory and voluntary motor insurance to a maximum of THB20 million ($620,000) per incident. The move aims to better address major accidents without raising premiums.
Under the order:
Compulsory Motor Insurance: The maximum coverage per incident for all vehicle types is now THB20 million, effective immediately for both existing and new policies. Insurance companies are required to update policy forms and wording in accordance with the order, with full compliance by 1 January 2026.
Voluntary Motor Insurance: The minimum coverage per incident in the third-party liability category for death or permanent total disability is set at THB20 million for all vehicle types, effective for new policies from 1 January 2026.
Paiboon Pieammetta, OIC Assistant Secretary-General of Insurance Product Supervision, noted:
“Although previous updates increased per-person coverage under compulsory policies from THB300,000 to THB500,000, maximum liability per incident remained at THB5 million for small passenger cars and THB10 million for larger vehicles. Voluntary policies also largely maintained a maximum of THB10 million. This order raises coverage to reflect real-world risks and ensures effective care for accident victims without increasing the burden on policyholders.”
The OIC emphasized that these adjustments aim to provide sufficient protection for accident victims while keeping premiums stable.
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