Insurance Premium Rating Bureau: IPRB

History

Background:
 
The Insurance Premium Rating Bureau (IPRB) was established in 2004 by the General Insurance Association to protect the interests of non-life insurance companies, the insured, and the related organizations.
Based on professional knowledge and unbiased approach, IPRB contributes to not only sound growth of the Thai non-life insurance industry but also the protection of interests of insurance consumers. IPRB’s reference loss cost rate enables fair and reasonable pricing, and its role as a data center and information service provider improves efficiency in the Thai insurance industry.
 
Key Milestones:
 
  • March 12, 2003: The meeting at the National Insurance Strategies Workshop agreed to set up an organization that provides reference loss cost and premium rating support to the industry.
  • December 11, 2003: The Department of Insurance agreed on the principles of IPRB establishment.
  • April 20, 2004: The GIA Board of Directors appointed the authorized persons as the Board of Directors.
  • September 2, 2004: The first Secretary-General was appointed by the Board of Directors.
  • April 4, 2005 : IPRB has officially commenced operations.