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Finance

Insurance sales surge in Thailand as epidemic spreads

Citizens rush to secure medical expenses and payouts with coronavirus policies

Royal Thai Army soldiers sanitize the street in Bangkok at night to deal with the spread of coronavirus. The government invoked a state of emergency on Thursday. (Photo by Akira Kodaka)

BANGKOK -- Insurance companies in Thailand are rushing to provide affordable insurance policies to match rising demand, as people scramble to buy insurance policies to secure medical expenses and compensation as the deadly new coronavirus continues to spread in the Southeast Asian country.

"From January until now, 20 insurance companies submitted their coronavirus insurance policies to us for approval before they can sell them," said a senior official at the Office of Insurance Commission, which oversees the country's insurance industry. "We expect more companies to design diversified policies as demand is rising."

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