Thai Earthquake Insurance Claims Could Hit $1.53 Billion Following Myanmar Quake in March

Bangkok – Insurance claims in Thailand from the devastating March earthquake centered in Myanmar could soar to 50 billion baht (approximately USD 1.53 billion), according to the Thai General Insurance Association (TGIA). The quake, which struck on March 28, 2025, is the strongest to hit Myanmar in over a century and has triggered around 150,000 insurance claims in Thailand alone.

TGIA President Somporn Suebthawilkul stated that the claims process is expected to continue through September, and demand for earthquake-inclusive insurance and personal property coverage is rising rapidly. The quake, measuring magnitude 7.7, struck near Sagaing, central Myanmar, at a shallow depth of around 10 kilometers, amplifying its destructive power across borders.

Myanmar experienced widespread devastation, particularly in the Sagaing and Mandalay regions. Over 3,600 people were reported dead, with thousands more injured. Entire towns were left in ruins as homes, religious structures, and bridges collapsed. The scale of destruction is among the worst in the country’s modern history.

The seismic shockwaves extended deep into Thailand, where tremors were felt as far as Bangkok, more than 1,000 kilometers from the epicenter. A particularly tragic incident occurred in the Thai capital, where a partially constructed 30-story skyscraper collapsed, resulting in at least 92 fatalities and multiple injuries.

The tragedy also exposed serious gaps in worker protection. Reports indicate that many of the construction workers killed or injured were not covered by accident insurance, as their employers had failed to purchase the voluntary insurance policies available under Thai law. The disaster has since intensified national discussions around compulsory workplace insurance in high-risk sectors like construction. – News Agency