The Office of Insurance Commission, or OIC, has ordered insurance companies to assess their catastrophe reserves as close to reality as possible and to set aside full reserves, in order to prevent liquidity strain and to reflect the overall damage picture across the system. This follows the second joint meeting with the insurance sector, held on 2 October 2026, to prepare for the wave of claims expected to flood in simultaneously once the floods recede. At the first meeting on 28 December 2026, damage data was still scattered and incomplete. Under the data and liquidity response guidelines, insurance companies are required to clearly separate repair status into three stages: awaiting entry to repair, under repair, and repair completed, in order to prevent artificial status problems. On staffing and resource management, the OIC recommends allocating loss surveyors and damage assessors appropriately, and grouping damage levels for internal combustion engine vehicles into five levels, A through E, according to the level of water reaching the vehicle. At level A, water reaches the vehicle's floor carpet, with repair costs estimated at approximately 8,000 to 10,000 baht. At level B, water reaches the seats, with repair costs estimated at approximately 15,000 to 20,000 baht. At level C, water reaches the lower part of the console, with repair costs estimated at approximately 25,000 to 30,000 baht. At level D, water reaches the upper part of the console, with repair costs of 30,000 baht or more. At level E, the car is fully submerged and should be considered a total loss, with claims paid according to the sum insured. For electric vehicles, a combined assessment structure is set, requiring a joint assessment process covering damage to the vehicle structure and the battery pack, as well as reference to specific technical specifications from each manufacturer. A framework is also set for paying compensation within seven days in cases where damage is clearly proven, and the documentation process is unlocked for total loss cases still under installment obligations to financial institutions. On building strategic partnerships, the OIC will act as a central hub coordinating with banks and financial institutions in cases of total loss vehicles still under finance obligations, as well as providing networks of forklifts and tow trucks and opening access to cordoned-off areas. Chuchat Pramulphon, Secretary-General of the OIC, stressed key principles for policyholders: safety first, notify the company first, and collect as much evidence as possible. Absolutely do not start a flooded car. Photograph or video the water marks and the vehicle once it is safe, then notify the insurance company immediately. Meanwhile, the public can use the central claims channel for all insurance companies via the website www.oic.or.th and the LINE Official Account @OICCONNECT, as well as the OIC hotline 1186 around the clock until 5 October 2026.
The Office of the Insurance Commission, or OIC, has issued guidelines for claiming compensation for damage in flood situations. Secretary-General Chuchat Pramulphon emphasized that the safety of life and property must come first, and that people should not risk entering flooded areas merely to take photos or collect evidence. For cars flooded by water, Type 1 auto insurance covers flood damage, while Type 2+ and Type 3+ policies require checking whether additional flood coverage is included. The OIC has set guidelines for assessing damage to combustion-engine vehicles according to five water levels: Level A, water reaching the car floor mats, with repair costs of approximately 8,000 to 10,000 baht; Level B, water reaching the seats, with repair costs of approximately 15,000 to 20,000 baht; Level C, water reaching the lower part of the console, with repair costs of approximately 25,000 to 30,000 baht; Level D, water reaching the upper part of the console, with repair costs of 30,000 baht or more; and Level E, the car fully submerged, which should be considered a total loss. For electric vehicles, or EVs, the damage to the battery must be considered together with damage to the vehicle itself and the specifications of each brand and model. For homes, residences, buildings, or damaged property, policyholders should check their policies to see whether they include natural disaster or flood coverage and what the coverage limit is, take photos or videos showing both wide shots and details, and prepare a list of damaged property before notifying the insurance company. The OIC has also set up a central hub of insurance claim channels for all companies in one place, which can be checked via the website www.oic.or.th and the LINE Official Account @OICCONNECT, and it has opened the 1186 hotline around the clock.
Warren and Hawley Open Senate Probe Into Insurers' Zero-Payout Claims
Sens. Elizabeth Warren and Josh Hawley have opened a probe into how leading home and auto insurers process claims, following a Wall Street Journal investigation into the rising chances of no payout. Warren, a member of the Senate Banking Committee, and Hawley wrote Friday to six of the biggest insurers, seeking data and explanations for the increasing risk faced by many Americans that a claim will result in no payment. The letters ask State Farm, Allstate, and others to disclose the breakdown of home and auto claims they have closed without payment, including how many were formally denied. The senators said the findings raise serious questions about whether consumers can trust their insurance companies to hold up their end of the bargain when disasters or emergencies occur, and questioned whether companies are using increasingly aggressive claims-handling practices, including tactics to delay payments, to drive up profits. U.S. property and casualty insurers reported $31.2 billion of underwriting profits for the first half of this year, nearly triple the $10.9 billion for the same period last year, according to a report last month from rating firm AM Best, which said higher premiums and lower payouts on claims helped drive the profits upturn. A State Farm spokesman said the insurer is reviewing the senators' letters, while a spokesman for Allstate didn't respond to requests for comment.
ALL · Regulation · Negative Allstate is one of the six insurers receiving the senators' probe letters over zero-payout claims and aggressive claims-handling practices.
State Farm · Regulation · Negative State Farm is named as a recipient of the Senate probe letters seeking data on claims closed without payment.
Alm. Brand Lifts 2026 Outlook on Low Claims, Run-off Gains
Alm. Brand raised its 2026 outlook on Monday after a favorable third quarter, helped by a low level of major and weather-related claims and gains from run-offs. The Danish insurer now expects a pre-tax profit before other income and expenses of 1.65 billion to 1.75 billion Danish crowns for the year. Full-year guidance for the insurance service result, excluding run-offs in the fourth quarter, was lifted by 250 million crowns to 1.5 billion-1.6 billion crowns, from a previous range of 1.2 billion-1.4 billion crowns. The combined ratio is now expected at 86.5-87.5, improved from the earlier 88-90 range, while the expense ratio guidance is unchanged at around 17%. Alm. Brand cut its investment result forecast to 150 million crowns from 250 million crowns, citing the rise in interest rates, and said other income and expenses, including amortization of intangible assets, are still expected to total an expense of roughly 500 million crowns. The company will publish its full third-quarter results on October 28.
Climate Adaptation & Water › Property/Casualty & Reinsurance Underwriting ▲Capital
Climate Adaptation & Water › Climate Risk Analytics & Insurance Capital
0DJI.LSE · Capital · Positive Alm. Brand raised its 2026 profit and insurance-service guidance on low major/weather claims and run-off gains, though it cut its investment-result forecast.
TQR ready to take on national catastrophe insurance scheme covering 30 million households
TQR Public Company Limited, or TQR, disclosed that it is still gathering detailed information on the national catastrophe insurance programme, after the government began providing coverage from 1 October 2026 to 30 September 2027. It views the government's support and establishment of a risk-distribution mechanism as an important development for the country, and one that may help raise its capacity to absorb catastrophe risk closer to international standards. Under the programme, the government purchases insurance on behalf of the public, covering 30 million households nationwide, with protection against floods, windstorms and earthquakes. A total of 11 insurance companies are participating, five of which are listed on the Thai stock exchange: TIPH, BKIH, MTI, TVH, THRE and TQR. Meanwhile, ASL Securities views the programme as positive for the insurance sector in terms of premium growth and expanding insurance penetration, and recommends gradually accumulating TIPH, KTB and BBL. TIPH is the standout stock, benefiting directly through Thip Insurance, which has the opportunity to take on new premiums and build them into recurring premium income if the government renews the programme next year. KTB and BBL, meanwhile, gain indirect positive sentiment.
TQR.BK · Demand · Positive TQR is participating in the government's national catastrophe insurance programme covering 30 million households, which may raise its capacity to absorb catastrophe risk.
TIPH.BK · Demand · Positive TIPH is the standout, benefiting directly through Thip Insurance's opportunity to take on new premiums and build recurring premium income under the programme.
QBE Insurance Appoints Jonathan Groves as Australia Pacific CEO
QBE Insurance Group has appointed long-serving executive Jonathan Groves as CEO of its Australia Pacific division, effective 1 November 2026, subject to regulatory approvals. The leadership change lands on top of a finely balanced valuation story: analysts see fair value at about A$24.47, only slightly above the A$23.81 last close, leaving the stock roughly 3% undervalued. QBE has delivered a 20.19% year-to-date share price return and a 4.11% decline over 90 days, while its 5-year total shareholder return stands at 136.36%. The company's strong capital position, recent AA credit upgrades and disciplined risk management underpin stable dividend payouts and optionality for strategic acquisitions or investment in new growth segments. The story could still shift quickly if premium rate pressure worsens or large loss volatility unsettles underwriting results again.
Kemper Forms Enterprise Distribution & Marketing Unit, Names Chris Flint Chief Distribution & Marketing Officer
Kemper Corporation has formed an enterprise Distribution & Marketing organization, appointing former Kemper Life President Chris Flint as Chief Distribution & Marketing Officer and naming new leaders for its P&C Claims and Life businesses. The move consolidates sales and marketing across the company while placing experienced operators over claims and life insurance, an effort to tighten execution and better align growth initiatives across business lines. Among the recent developments, the appointment of Todd Williams as Chief Claims Officer stands out alongside the marketing reorganization, given that claims performance sits at the heart of Kemper's key risk around loss ratios and reserve stability. Kemper's narrative projects $4.3 billion in revenue and $527.0 million in earnings by 2029, yielding a $36.33 fair value and a 42% upside to its current price, while some of the most cautious analysts were assuming revenue around US$4.8 billion and earnings near US$415 million by 2029. The reorganization does not by itself remove the biggest near-term pressure point, which is underwriting volatility in specialty auto and the risk of further loss-driven earnings swings.
Climate Adaptation & Water › Property/Casualty & Reinsurance Underwriting Talent
KMPR · Capital · Neutral Kemper forms an enterprise Distribution & Marketing unit and names new claims/life leaders, an execution reorganization that doesn't remove specialty-auto underwriting volatility.
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