Marine Import Compulsory Insurance Act.

Abstract

The purpose of this research was to find out the policy instrument to decrease the deficit of payment in international trade, especially on the part of marine import insurance which a large amount of premium payment was paid each year. This problem could be solved by enforcing and encouraging importers to insure their importing goods through local (Thai) insurance companies which had been a successful practice in many other countries. In this research, data were collected from several relevant sources,442 importers, simple random sampling selected from 1500 large importers were interviewed. Basic information of these importers were taken from the data bank stored in the computer center of the Department of Business Administration. In addition to personal interview, corperation interview were also carried out from 50 local situated insurance firms and 8 government authorities, namely : Insurance Department, Department of Foreign Trade, Revenue Department, Customs Department, Bank of Thailand, Office of the Mercantile Marine Promotion Committee, Ministry of Foreign affairs, Ministry of Industry. The conclusion was primarily drawn that the following actions should be performed by the government in encouraging the public in using local insurance services. 1. more public relation for nation-wide co-operation 2. tax incentives such as double insurance premium deduction for corporate income tax calculation. It is expected that if aggressive campaign is excercised, there would be some good results in reducing the out flow of insurance premium as expected.