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Finance

Sompo readies Thailand cross-border accident insurance

Japanese insurer responds to growing commerce flows around Southeast Asia

BANGKOK -- Sompo Holdings debuts insurance products in September targeting Japanese logistics companies in Thailand, covering accidents in four neighboring countries as more goods flow across the region.

Thailand, a manufacturing hub, anchors Southeast Asia's supply chain, and trucks commonly make deliveries to factories and logistics centers within 10km or so of the Thai border.

The Japanese insurer will cover accidents occurring in the border areas of Cambodia, Laos, Malaysia and Myanmar. Sompo will offer comparable service to its domestic Thai insurance. Agents will reach the scene within two hours, and claims will be accepted any day at any time.

Cross-border travel risks in Southeast Asia include having to drive on different sides of the road in various countries. Thai companies already offer cross-border accident insurance.

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