Pattarapong ChatpattarasillThailand's electric vehicle (EV) insurance market is expanding at an unprecedented pace, tracking rapid growth in EV sales dominated by Chinese brands, which have overtaken Japanese automakers in market share. The accident frequency for EVs is 74.8%, compared with 47.2% for ICE vehicles, indicating that EVs are nearly 1.6 times more likely to generate claims, he said. As a consequence, EV loss ratios have climbed to 84.3%, far exceeding the 61.3% reported for ICE vehicles. The data underscores the mounting claims burden facing insurers underwriting EV risks, said Mr Somporn. "Looking ahead, TGIA and TIRD expect overall motor insurance premiums, both voluntary and compulsory, to expand by 2-3% in 2026.

Source: Bangkok Post December 29, 2025 00:07 UTC