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The Thai General Insurance Association said that the recent terror attacks in Paris will indirectly affect the Thai insurance sector in 2016 as the attacks will pressurize trade activities and the tourism sector, reports The Nation.
The association had earlier forecast a 3.5% growth in nonlife insurance premiums in 2016.
Arnon Vanvasu, the association's president, said that the Thai export sector would be negatively affected if the violence spreads.
Mr. Vanvasu said that rates for political violence insurance are likely to increase following the attacks.