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Thai Motorcyclists Seen as Huge Untapped Market for Insurers.
Byline: Walailak Keeratipipatpong
Feb. 4--Insuring motorcyclists is probably the riskiest segment for any insurance company to enter. Even so, after three years in operation, the Road Victims Protection Co sees potential to expand coverage, despite payout claims running as high as 92 percent of premiums income.
The company is owned by all non-life insurance firms, which share responsibility for covering motorcyclists. The insurers are required by law to allocate 2 percent of their premium income to support the specialised company.
Starting business late in 1998, the company had about 600,000 policies by the end of 1999, two million in 2000 and ...
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