Educational Information Only
The content on this page is for general educational purposes and does not constitute legal advice. Every legal situation is unique. For matters involving investigation, arrest, litigation, or formal proceedings, consult a qualified legal professional.
Life Insurance Act + Non-Life Insurance Act
พระราชบัญญัติประกันชีวิต / พระราชบัญญัติประกันวินาศภัย · Insurance Act · B.E. 2535 (1992)
Overview
Thai insurance is governed by two parallel statutes — the Life Insurance Act B.E. 2535 (1992) and the Non-Life Insurance Act B.E. 2535 (1992). Both are administered by the Office of Insurance Commission (OIC). The Acts cover licensing of insurers and intermediaries, policy requirements, solvency, claim handling, and consumer protection.
- Promulgating authority
- Parliament
- พระราชบัญญัติ
- Enacted
- B.E. 2535 (1992)
- Official text
- https://www.krisdika.go.th/
Key Sections3
The 3 sections most frequently cited in practice or relevant to foreigners. Click any section for a deep-linkable page suitable for sharing.
Section 10
— LicensingInsurance business requires Finance-Minister-issued licence recommended by OIC.
Section 27
— Capital adequacyInsurers must maintain Capital Adequacy Ratio set by OIC; RBC framework.
Section 84
— Claim paymentInsurers must pay valid claims within prescribed timelines; OIC supervises.
Amendments
Multiple amendments strengthening solvency rules and aligning with international (IAIS) standards.
The summaries on this page are plain-English educational paraphrases — not authoritative translations. For the binding wording you must consult the Royal Gazette publication or the consolidated text at the Office of the Council of State. Educational use only — not a substitute for advice from a Thai-qualified lawyer.
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