Reinsurers plan structural change to Thailand coverage offering

Secondary market forced to rethink offering what was ‘a form of free catastrophe cover’

By Greg Dobie, Sydney

Reinsurers are excluding perils from pro-rata programmes in Thailand in the wake of this year’s flood activity, with carriers seeking to implement a major structural change to the way coverage is offered in the country, as the secondary market braces itself to shoulder as much of 80% of the insured loss estimate of $10bn-plus.