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Report of the Legal and Compliance Committee

1. Compliance with the (ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TER-
RORISM: AML/CFT)
After the Anti Money Laundering Office has issued a ministerial regulation on customer identification
requirement that requires all general insurance companies to comply with the ANTI-MONEY LAUNDERING AND

COMBATING THE FINANCING OF TERRORISM: AML/CFT, starting from August 21, 2012 henceforth, the Legal and
Compliance Committee has compiled key aspects of all related laws and regulations and posted them on the E-Law
Library page of the association’s website so that members companies can use the information in support of their
compliance efforts. The Committee has also coordinated with other agencies in order to seek their cooperation in
carrying out compliance effort.

2. Providing Opinions on the OIC’s Drafted Notification
The Committee has organized the meeting with working groups and the OIC in order to provide opinions on
various notifications issued by the OIC as follows:

2.1 The drafted notification on criteria and methods for sales offering of life and general insurance policies
and the performance of duties of life and general insurance agents and brokers, B.E….and the Do-Not-
Call- List for tele-marketing of insurance policies.
2.2 The drafted notification on criteria for allowing insurance companies to outsource their claim payment
service.
2.3 The drafted notification on criteria, methods and conditions for reinsurance by general insurance
companies, B.E. 2012.
2.4 The drafted insurance report.
2.5 The drafted advertisement framework for life/general insurance companies.
2.6 The drafted reinsurance management strategy guidance.
2.7 The drafted of the office of Insurance Commission notification on criteria and methods in announcing or

advertising on the violation or non-compliance of non-life insurance law, B.E. ……
2.8 The drafted OIC Notification on Prescribing the Cases Where Company’s Director, Manger, Authorized
Person or Advisor Have Derogatory Personal Record or Has Operated the Business Without Responsibility
or Professionalism, B.E……..

3. The Setup of Database of CAR ratio/Rating of Foreign Reinsurance Companies
Set up the database of car ratio/rating of foreign reinsurance companies by collecting the rating results,
published by major rating companies such as A.M Best, Fitch, Moody’s and Standard & Poor’s, specified by the
Office of Insurance Commission in its notification on reinsurance companies in order to facilitate member companies

in selecting the right reinsurer and to use the information in assessing the risk condition of foreign reinsurers
according to the RBC criteria. The information is posted on CAR ratio/Rating page of the association’s website.

สมาคมประกันวินาศภัยไทย | Thai General Insurance Association 123