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Thai Official Says More Cuts Loom for Auto Insurers.
Jan. 8--Compulsory insurance premiums for passenger cars will be cut by a further 200 baht to average 750 to 800 baht a policy, says Deputy Commerce Minister Suvarn Valaisathien.
The new rate would return profits to consumers rather than insurance companies, he said, adding that auto insurers were making big gains on the policies due to the low loss ratio of 35 percent.
"Many companies do not agree with the reduction, saying that profits from passenger car coverage are needed to offset huge losses from insuring motorcycles," Mr Suvarn said.
"But the new rate was worked out after calculating loss expenses."
The minister said the new ...
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