Insurer ordered to pay CentralWorld B3.7bn | Bangkok Post: business

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Insurer ordered to pay CentralWorld B3.7bn

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The civil court yesterday ordered Deves Insurance to pay 3.7 billion baht in damage claims to the CentralWorld shopping centre resulting from the 2010 clashes between security forces and red-shirt protesters in the Ratchaprasong area. 

The court ruled that the May 19, 2010 riots and arson attacks were not acts of terrorism.

The court told the insurer to pay CentralWorld 2.7 billion baht in damage claims and 989 million baht in compensation for business disruption. It also ordered Deves Insurance to pay 7.5% interest backdated to March 31, 2011.

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