Thailand to develop cyber insurance policy

BANGKOK, May 25 (TNA) - Thailand's Office of Insurance Commision (OIC) plans to introduce a cyber insurance policy to provide benefits to insurees from cyber damages. Delivering a speech at the Symposium Thailand 4.0, themed “Fintech & Cryptocurrency vs. Law Enforcement”, organized in Bangkok on May 24, OIC Secretary-General Suthipol Taweechaikarn said that his office is developing the cyber insurance policy as a new product to protect consumers. Suthipol, meanwhile, announced that OIC has not yet allowed insurance companies in Thailand to invest in digital money. The OIC chief reasoned that high risks remain in the investment in digital money and there are no clear compensation measures for investors from any damage caused to them by their cryptocurrency investment schemes. (TNA)