The business operations of Charan Insurance Public Company Limited are divided into two areas:
1. Underwriting
Our core business includes all classes of non-life insurance underwriting and is divided into:
- Direct insurance refers to selling insurance through agents, brokers - individuals and firms, financial institutions, and directly to customers.
- Reinsurance refers to acceptance of risks from other non-life insurers.
1.1 Fire insurance is the insurance underwriting of constructions (excluding foundations) buildings, houses, townhouses, shophouses, commercial buildings, manufacturing plants and/or building contents, stock of merchandise, furniture as well as machinery and equipment. Fire insurance is divided into:
- Home fire insurance covers property loss or damage caused by fire, lightning (including damage to electrical appliances and equipment arising from lightning-caused short circuit), explosion, vehicle impact, aircraft impact, water damage due to accidental discharge, leakage or overflow of water or steam (with protection against 4 natural disasters, i.e. storm, flood, earthquake or volcano eruption or tidal wave or tsunami and hailstorm, of up to 20,000 baht / year for actual damage caused by all disasters). Coverage can also be extended to include rent for temporary dwelling (as per the terms of home fire insurance).
- Fire insurance is the protection against property loss or damage caused by fire, lightning and explosion of lighting- or domestic-use gas. Coverage against additional perils such as explosion, water damage (excluding flood) windstorm, and electrical damage is provided only when specifically stated in the insurance policy.
1.2 Marine cargo and logistics insurance protects domestic and international freight shipped by sea, air, road or rail. It provides coverage against any loss of or damage to imported and exported goods in transit caused by sea perils or natural forces, i.e. earthquake, volcano eruption, or lightning. Extra protection can also be offered against other risks such as theft, war, riot or strike. The insurance policies can be classified are as follows:
1. Marine cargo and logistics insurance policy (by sea, air, road, or rail)
2. Inland cargo insurance policy
- All-risks insurance policy
- Named perils insurance policy
3. Carrier’s Liability Insurance Policy
1.3 Miscellaneous insurance provides protection against loss or damage arising from perils other than those covered by fire insurance, motor insurance or marine insurance. We offer various types of miscellaneous insurance products are as follows:
| - Property Insurance | - Business Interruption Insurance (on all-risks policy) | |
| - Leasehold Contingency Insurance | - Small-Business All-Risks Insurance | |
| - Construction Insurance | - Contractors' Equipment Insurance | |
| - Machinery Breakdown Insurance | - Boiler and Pressure Vessel Insurance | |
| - Electronic Equipment Insurance | - Personal / Group Accident Insurance | |
| - 200 Microinsurance | - Travel Accident Insurance | |
| - Personal / Group Overseas Travel Insurance | - Tour Operators & Guides’ Travel Accident Insurance | |
| - Cancer Insurance | - Third-party Liability Insurance | |
| - Money Insurance | - Burglary Insurance | |
| - Product Liability Insurance | - Category 3 Licensed Business Liability Insurance | |
| - Plate Glass Insurance | - Compulsory Lodging Tenants’ Insurance | |
| - Hazardous Substance Road Transport Liability Insurance | - In-season Rice and Corn insurance | |
| - Fidelity Guarantee | - Gold Shop Insurance | |
| - All-Risks Insurance | - Golfers Insurance | |
| - Terrorism Property Insurance | - Post-trial Bail Bond Insurance | |
| - Pre-trial Bail Bond Insurance | - Watercraft Passenger Insurance | |
| - Billboard Insurance | - Unemployment Insurance | |
| - Workmen’s Compensation Insurance | - Directors and Officers Indemnity Insurance | |
| - Insurance for Specific-Purpose Motor Sea-craft (Rental Jet Ski) | - Unnamed Driver and Passenger Accident Insurance | |
| Surveyors Professional Indemnity Insurance | - Elderly Care Insurance | |
| - Disease-specific health insurance |
1.4 Motor insurance covers risks arising from use of motor vehicle. Protection ranges from loss of and damage to the vehicle itself and theft of auto accessories, to injury, loss of life and property of both the driver and passengers of the vehicle, as well as loss of life and property of third party. It also provides extra coverage such as driver bail bond. Motor insurance is of the following two types:
- Compulsory insurance refers to the minimum insurance that the owner of each vehicle is required to have in accordance with the Road Accident Victims Protection Act, B.E. 2535 (1992) and is thus called “Road Accident Victims Protection Insurance” or “PorRorBor Insurance”. According to the Act, any person who uses or owns a vehicle for use must take out PorRorBor insurance (except those vehicles exempted by the Act, e.g. vehicles of the Bureau of the Royal Household, vehicles for the monarch's use, ministerial or government departmental vehicles, etc.) or face a penalty up to 10,000 baht.
- Voluntary insurance refers to the type of insurance that is taken out voluntarily by vehicle owner to cover against damage to the vehicle itself and/or the legal liability of the insured towards any third party. Voluntary coverage can be classified into the following five categories:
Category 1: covers legal liability towards any third party for death, bodily injury and damage to health or property as well as loss of or total or partial damage to the insured vehicle that is caused by accident, theft and fire.
Category 2: covers legal liability towards any third party for death, bodily injury and damage to health or property as well as loss of or damage to the insured vehicle that is caused by theft and fire.
Category 3: covers legal liability towards any third party for death, bodily injury and damage to health and property.
Category 4: protects against legal liability for third-party property only.
Category 5: covers legal liability towards any third party for death, bodily injury and damage to health or property as well as loss of or damage to the insured vehicle and its accessories or fixtures, that is caused by road traffic collision where the other party is involved.
2. Investment
As a non-life insurer, the Company is permitted to use its surplus funds to invest or seek returns as another major source of income. When choosing investments, we always consider the level of risk acceptable to the organization. We also ensure that the investments are liquid enough to be easily changed into cash when needed. All our investments conform strictly to the types, proportions and conditions statutorily required under the Office of Insurance Commission’s Notification Re: Investment in Other Businesses by Non-Life Insurers (No. 2), B.E. 2558 (2015). The Company’s investments consist of loans, securities, bills, bonds, ordinary shares, debentures and bank deposits.