Cars equipped with CCTVs to get premium discount in Thailand

BANGKOK, March 10 (TNA)- The Office of Insurance Commission (OIC) has ordered insurance companies to cut car insurance premiums by 5-10 per cent for vehicles equipped with close-circuit televisions (CCTVs). OIC Secretary-General Suthiphon Thaveechaiyagarn told journalists on Friday that the order, effective as of March 3, 2017, is aimed at promoting drivers’ traffic discipline and reducing road accidents. Suthiphon said footage from the dashboard cameras installed in vehicles will also provide evidence for insurers to calculate compensation payments effectively. To get the discount, people who buy or extend a car insurance policy must provide photos of the installed cameras in their vehicles when they enter into the insurance contract and they must keep the equipment in place during their insured period. The dashboard cameras for autos have gained popularity among motorists over the past few years and footages are often shared on the social networks to warn the public to be on alert and avoid similar accidents. (TNA)