Thai Life Insurance is providing relief and assistance to customers affected by fraudulent actions of a former life insurance agent. The company has also set up a legal team to help pursue fraud charges.
Following the case where the Office of Insurance Commission (OIC) revoked the license of Ms. Janaket Thapboon, a former life insurance agent of Thai Life Insurance Public Company Limited, due to insurance fraud,
the company has thoroughly reviewed all relevant documents and facts related to the case. It is committed to assisting and compensating affected policyholders in a clear and concrete manner according to good governance principles to best protect their insurance benefits under the policy terms.
For policyholders who have documentation proving payment to the company, the company will either reinstate their policies to provide coverage under normal terms or consider refunding the premiums paid.
So far, the company has taken responsibility for 12 policyholders who have evidence of money transfers and supporting documents consistent with the life insurance arrangements and complaint facts. At the same time, it has formed a legal team to assist policyholders wishing to file fraud charges against Ms. Janaket.
Additionally, the company has implemented measures to prevent similar incidents and other fraud risks, aligning with OIC regulatory guidelines. These include switching to electronic temporary receipts, discontinuing cash premium payments for new policyholders, and ongoing communications through various company channels to raise awareness about premium payment methods.