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Insurers told to pay $3 million for riot-related damage


The Supreme Court of Thailand has ordered insurers to pay the Stock Exchange of Thailand, Thailand Securities Depository Ltd. and Family Knowhow Co. Ltd. 100 million Thai baht ($3 million) for riot-related damage, Thailand Business News reported. The six insurers including New Hampshire Insurance Co., Bangkok Insurance P.C.L. and Muang Thai Insurance P.C.L. had initially refused to make payouts, claiming that the arson was an act of terrorism and exempted from the coverage. Rioters broke into the stock exchange and set fire to the building on May 19, 2010, causing THB 108 million worth of damage.

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