BANGKOK, 25 July 2014 (NNT) – The Tourism Authority of Thailand signed a memorandum of understanding with the Office of Insurance Commission (OIC) on Thursday, to create low-cost insurance schemes for foreign tourists that start at just 650 baht per person.

Thawatchai Aranyik, the governor of the Tourism Authority of Thailand (TAT), and OIC secretary-general Prawet Ong-atsitthikun yesterday signed the MOU for the low-cost insurance project, which will see participation by Muang Thai Insurance, Siam City Insurance, Chao Phraya Insurance and Krung Thai Phanit Insurance companies.

Read more: NNT