Insurance specialists from Tilleke & Gibbins’ Bangkok office have provided an update to the Thailand chapter of Thomson Reuters’ Practical Law guide to insurance and reinsurance.

The guide is a Q&A-style overview of insurance and reinsurance law in dozens of jurisdictions worldwide. The Thailand contribution provides a detailed overview of the legal framework for the insurance and reinsurance market in Thailand, covering the following issues:

• Market trends;
• Regulatory framework;
• Authorization for insurers and reinsurers and insurance intermediaries, exemptions and foreign insurers, fronting, legal forms, and restrictions on insurance activities;
• Ownership restrictions;
• Ongoing requirements and penalties for noncompliance;
• Sales and marketing;
• Transfer of risk;
• Reinsurance contracts and risks;
• Contracts and policies, including content requirements and common clauses, implied terms, customer protections, and standard policies or terms;
• Dispute resolution;
• Insovency;
• Tax;
• InsurTech; and
• Reform.

Practical Law produces a number of guides to key legal practice areas around the world for business lawyers. Tilleke & Gibbins contributes many overviews to these guides for all of the firm’s jurisdictions in Southeast Asia.

To read the full Thailand insurance and reinsurance chapter, please visit the Practical Law website.