"We need to join forces to overcome this epidemic and prove the insurance system can effectively relieve people's plight," said OIC Secretary-General Suthiphon Thaveechaiyagarn.

Suthiphon explained that insurance companies will develop travel insurance that provides medical and death coverage to foreign travellers; it is hoped that this will give travellers extra confidence when they visit Thailand and, in turn, support the country’s tourism economy.

In addition, to alleviate any unexpected impact from the coronavirus on local residents, the OIC has approved insurers to begin developing insurance products with coronavirus coverage – several insurers are offering additional coverage to their existing health insurance policyholders.