Regulation of Sharing Information of the insured between Insurance Companies

Abstract

According to the issue of sharing information between the insured and insurers, there is no measures or laws to support sharing of insured's information in Thailand, so the exchange of the insured's information seems impossible. Sharing information will allow the insurer to acknowledge the basic information of the insured and make the decision to undertake the insurance. Moreover, there will be the scope of collecting of the insured's important information. That information will be collected with the insured's consent as well. Therefore, the researcher realized that it would be appropriate to prescribe measures or rules for sharing of the insured's information under the supervising from the Office of Insurance Commission, to be the organization to oversee sharing of insured's information with the insured's confident boost. The result of the study presented that British's law has established rules for sharing of information between insurance authorities. Moreover, there are rules that regulate the insurance business for collecting the insured's information. Also, there is insurance's development plan called The IAIS Insurance Core Principles (ICPs), which is the clear standard of sharing of information between authorities.