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Non-Life Insurance Act Section 86 — Penalties for unlicensed insurance and fraud
Non-Life Insurance Act (พระราชบัญญัติประกันวินาศภัย) — Section 86.
Plain-English Summary
Acting as an insurer without a licence (Section 17) is punishable by two to five years' imprisonment or a fine of THB 200,000 to 500,000, or both, plus up to THB 20,000 a day while the breach continues. Acting as an agent or broker without a licence faces up to six months or THB 50,000 (Section 99). A fraudulent claim or false evidence in a claim is punishable by up to three years or THB 300,000 (Section 108/4).
Official Text
Official Thai text at the Royal Gazette / Office of the Council of State. Translation summary only.
Consult official sourceParent Statute
Non-Life Insurance Act
พระราชบัญญัติประกันวินาศภัย · B.E. 2535 (1992)
The Non-Life Insurance Act B.E. 2535 (1992) governs non-life insurers in Thailand and repeals the Non-Life Insurance Act B.E. 2510 (1967) (Section 3). Non-life loss (วินาศภัย) means any damage that can be estimated in money, including loss of rights, benefits or income (Section 4). Non-life insurance may be carried on only by a public limited company holding a licence from the Minister with Cabinet approval (Section 6). At least 75% of voting shares must be held by Thai nationals and at least three-quarters of directors must be Thai (Section 9), subject to the Commission's permission for non-Thai holdings of up to 49% and the Minister's power to relax the requirement, so 49% is not an absolute cap. The Act also covers security deposits by class of insurance, reserves, capital funds, policy-form approval, retention limits, licensed loss assessors, fire-insurance control, the ban on unjustified delay in paying claims, licensing of agents and brokers, the Non-Life Insurance Fund, and penalties. It is supervised through the Commission and Registrar of the Office of Insurance Commission (OIC). Life business is governed by a separate Act, and a non-life insurer may not carry it on (Section 31(1)). Compulsory motor-accident cover is not in this Act; it is under a separate Act on the protection of motor-accident victims.
The summary above is a plain-English educational paraphrase of Section 86 of the Non-Life Insurance Act. It is not an authoritative translation. For the binding Thai text, consult the Royal Gazette or the Office of the Council of State. Educational use only — not a substitute for advice from a Thai-qualified lawyer.
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