Concept and importance of earthquake insurance in seismic prone areas of Thailand

Abstract

Disaster insurance plays a crucial role in community recovery by offering policyholders dependable and prompt payments for repairing or rebuilding destroyed residences. Insurance also allows homeowners to shift the risk of house- related incidents, preventing them from facing substantial financial difficulties. While historical events have emphasized the significance of insurance, there is a lack of research on its specific influence on community recovery, especially in Thailand’s earthquake areas. This paper discusses the concept and importance of earthquake insurance in the context of Thailand. It aims to enhance our comprehension of earthquake insurance and its role in the recovery of communities affected by earthquakes.