Business ethics (Code of Conduct)

Which was approved by the Board of Directors meeting on 26 October 2015

1. Policies and practices of shareholders

     1.1 Strive to conduct business to generate good performance with sustainable growth.
     1.2 Perform duties with honesty and carefully operate the business with transparency and take any action with fairness to all shareholders.
     1.3 Strengthen the Company’s competitiveness to create value for shareholders in the long run.
     1.4 Report to shareholders on the situation of the organization on a regular, complete, and accurate basis including future trend of the organization, both positively and negatively with sufficient supporting reasons.
     1.5 Take action to prevent any person seeking benefits for themselves and others by the use of any information of the Company which has not been disclosed to the public or to take any action in a manner that might cause a conflict of interest of the organization.

2. Policies and practices to the public sector and regulatory agencies

     2.1 Support the operations of the public sector.
     2.2 Comply with the criteria and policies of the regulatory agencies strictly.
     2.3 Promote and encourage cooperation with government agencies in order to strengthen the stability and growth of the nation.

3. Policies and practices to employees

     3.1 Code of Conduct to employees
          (1) Provide compensation and set up procedure to prohibit conflicts of interest.
          (2) Carry out reward and penalty system with honest based on knowledge and ability and appropriateness of employees.
          (3) Comply with laws and regulations related to employees strictly.
          (4) Enhance the quality of work life and provide good working environment, occupational health and working safety in compliance with laws.
          (5) Encourage employees to participate in organizational development.
          (6) Provide adequate training for employees in connection with their roles and responsibilities, as well as knowledge on the insurance and services.
          (7) Encourage employees to progress in their career and have creative thinking according to their knowledge and competency.
          (8) Not to support the violation of human rights and sexual harassment.

     3.2 Code of Conduct for employees themselves
          (1) Perform duties with honesty, integrity and perseverance, diligence and improve the efficiency in the workplace.
          (2) Perform their duties with knowledge, ability, efficiency, and in accordance with key performance index.
          (3) Always learn and improve themselves.
          (4) Have a positive attitude towards the Company, colleagues, superiors, and those involved in the business.
          (5) Comply with morality and good tradition and not to behave in a way that could tarnish the reputation of their own and the Company.
          (6) Be disciplined and comply with the rules of the organization and good tradition, whether specified in writing or not.

     3.3 Code of Conduct for employees to superiors, subordinates, and colleagues
          (1) Listen to the instructions of superiors and not perform duties across the supervisors over themselves without any order of the above superiors
and to have the courtesy to ones with higher positions.
          (2) Receive comments of the subordinates about the work.
          (3) Always treat subordinates with kindness and fairness and give consulting, help, and advice to solve problems and develop subordinates
to make progress in the career, give knowledge and support training to increase their knowledge and experience.
          (4) Have solidarity, generosity, courtesy, and sincerity. Our staffs should help each other, and do not obscure information needed to perform
duties by their colleagues. They will also improve themselves to work with others, and respect each other.
          (5) Avoid disclosing other employees’ information regarding their works and personal activities, or criticize any one in a manner causing damage
to both employees and the Company, moreover not to cause conflict which can lead to damage to other persons and the Company.
          (6) Refrain from giving gifts to superiors or persons with higher position or accepting gifts from subordinates or persons with a lower position,
unless it is the case of retirement or sickness.

4. Policies and practices to Clients

     4.1 Marketing

          (1) Advertising Process
               A. Clearly and fairly design advertising and press release which will not cause misleading.
               B. Provide clients information regarding products and services such as the detailed coverage, conditions, exclusion for the coverage period and endorsements, and etc..

          (2) Process of insurance proposal
               A. Give information about the products and services accurately, sufficiently, and timely to clients without exaggeration misleading them about services quality and the coverage of the insurance policies.
               B. Demonstrate details of the costs to the insured exactly such as premiums, VAT, stamp duty, and etc..

          (3) Confirmation process
               A. Notify underwriting confirmation to the insured with accuracy and speed willingly, sincerely, and politely.
               B. Notify additional coverage details to the insured for better understanding.
               C. Issue documents to confirm insurance coverage in writing to the insured with speed and accuracy.

          (4) Delivery process of the insurance policy
               A. Deliver the insurance policy in a timely manner speed.
               B. Deliver the insurance policy with quality, accuracy, and correspondence to the needs of the insured.
               C. Meet the needs of the insured with speed and provide the system and channels for the insured to inquire about insurance policies and services.
               D. Describe forms, conditions, process, and payment methods which are accurate according to the terms of each type of insurance policies.

          (5) Market behavior and resolving complaints
               A. Assess the level of satisfaction in products, including the risk of the insurance policy holders or prospects before and after the coverage.
               B. Give knowledge and specific information, coverage, exception, premiums, expenses, and fees of insurance policy products.
               C. Not only recognize or give rewards for success in selling to the employees or brokers but also give rewards to ones who conduct correct selling method.
               D. Focus more on the benefits to policy holders or target customers rather than its own benefits.
               E. Set the policy and process for the receipt of complaints from the insurance policy holders or third parties with fairness, and transparency in a timely manner.
               F. Recognize the importance of after-sales services.

     4.2 Underwriting

          (1) Underwriting process consideration
               A. Check the information of the insured and examine the frequency of compensation claims prior to acceptance.
               B. Maintain the confidentiality of clients and not to use it for personal gain or related persons wrongfully.
               C. Set up the control system of accumulated risks which will be reported regularly.
               D. Set up underwriting manual and train employees.
               E. Establish underwriting authority clearly.

          (2) The process of preparation of insurance policy
               A. Prepare the insurance policy and deliver it with accuracy and speed.
               B. Set standards for the preparation of the insurance policy in accordance with the process continuing with other sections.
               C. Issue the insurance policy and attachments to be identical with forms approved from the Office of Insurance Commission.
               D. Prepare the insurance policy that is accurate and meets the needs of clients as stated in the insured application form or renewal
reminding cards under fair conditions.

          (3) The process for preparation of endorsement
               A. Notify changed premiums to the insured prior to the preparation.
               B. Order the cheques in the case of the return of premiums by identifying the payee clearly or transferring the money to the account
given by the insured persons.
               C. Upon the termination of the non-life insurance contract, the premiums will be returned completely within 15 days from the expiration
date of the insurance policy.
               D. Prepare endorsement and properly use the document required by the Office of Insurance Commission and make a delivery with
accuracy and speed.

          (4) The process for preparation of the renewal reminding letter
               A. Send reminding letter in advance not less than 30 days from the expiration date of the insurance policy.
               B. Describe the details of changes to the insured, including new premiums.
               C. Prepare the insurance policy and deliver it with accuracy and speed.

     4.3 Claim handling

          (1) Level of authority
               Set up the level of authority in claim approval and regularly organize training of employees regularly.

          (2) Step in Claim Settlement
               A. Acknowledge the receipt of claim notification within 3 working days from the date the claim is notified. If more information is needed,
request for additional information within 7 working days, such as supportive document or receipt etc.
               B. Keep the insured informed of any progress from time to time and advise him or her of additional information in claim notification.
               C. Advise the details of surveyor or the date the survey is to be made to the insured in advance and start executing the loss assessment
within 15 days from the date of loss or damage, unless there is some reasonable reason which the company has notified the insured or the beneficiary in advance.
               D. Quickly summarize the status of claim to the insured.
               E. Inform all the details or reasons in writing to the insured why such claim is denied.
               F. Once the final settlement is reached, prepare the written evidence duly signed by the authorized person and state the amount of settlement
or the date the amount of claim is to be paid which must not be more than 15 days from the date such agreement is made .
               G. Initiate repair order within 15 days from the date the loss is arisen, unless there is a reasonable cause and the consent of the parties.
               H. In the case that the Company chooses the method of compensation by ordering repairs, and the Company delivers spare parts to the
repairer or repairing garage that the Company orders to handle the repairs. The Company will accelerate the delivery of spare parts to be completed within 15 days from the date that the repairer or repairing garage receives the car and repair order from the Company. If the spare parts are not sold in the country and need to be ordered from abroad, the Company will issue an purchase order of spare parts immediately from the date that the repairer or repairing garage notifies the Company.
               I. If either the court’s judgement or the arbitration’s order rules against the company to be responsible for the claim, the company should
strictly comply with such order. If further clarification is needed, the company must proceed with the matter in a timely manner.
               J. Speedily respond with the insured’s requirement and effectively manage the process and channel for the insured to lodge his or her
complaint about the quality of products and its services.

     4.4 Procedure for receipt of complaints

Step 1
     – Verify response to the complaints within three working days.
     – If more information is needed, contact and request for information within seven business days shall be made.
     – Take action as soon as possible to end the conflict.
     – In the case of the necessity to take time longer, the insured persons will be contacted and reported on the progress within 14 working days from the last day of contacting the insured persons.

Step 2
     – If the insured persons are not satisfied with the solution of complaints, the insured persons can propose the issues directly to the Managing Director of the Company.
     – Inform the insured persons on the results of the appeal within 14 working days.

The final step
     In the event that the insured persons are not satisfied with the appeal, the insured persons can bring the matters into arbitration further.

5. Policies and practices to business partners and / or creditors

     Regarding business partners including insurers, agents, brokers and garages, there will be practices and combination of the benefits fairly without
taking advantages of them.

     5.1 Code of Conduct of the Company to business partners and / or creditors

          (1) Treat business partners and creditors equally and fairly on the basis of obtaining a fair return mutually.
          (2) Comply with the contract or conditions agreed strictly; in the case of failure of compliance with any condition, the notice to the business partner
and / or creditor shall be made in advance to jointly consider and find solutions.
          (3) In business negotiation, the request, acceptance, or pay of any dishonest benefit shall be refrained; if there is any occurrence, the details
shall be divulged to the business partner and / or creditor to jointly consider and find solutions fairly and quickly.
          (4) If there is information on occurrence of request, acceptance, or pay of any dishonest benefit, the details shall be divulged to the business partner
and / or creditor to jointly find solutions fairly and quickly.
          (5) Confirm the amount of settlement and manage financial information to creditors according to the terms agreed.

     5.2 Code of Conduct of employees to business partners and / or creditors

          (1) Refrain from request, acceptance, or agreement to receive of money, things, entertainment in various forms, or any other benefit from
the business partners of the Company and not to engage in any finance or benefit with the business partners such as being joint venture for trading, lending or borrowing, and etc.
          (2) Refrain from the receipt of the gifts, complimentary gifts, or grants from clients or business partners that are worth more than 2,000 baht;
if it is necessary to receive or acquire the gifts, complimentary gifts, or grants that exceed the required value limit, this shall be reported to the Company and delivered to the Company further.
          (3) Treat business partners or creditors equally on the basis of obtaining a fair return.
          (4) Maintain the confidentiality of business partners and / or creditors.
          (5) Arrange meetings and training course for the business partners as appropriate or as needed.

6. Policies and practices to competitors

     (1) Conduct and comply under the rules of fair competition.
     (2) Not to find confidential information of the competitors by a dishonest or inappropriate way such as the payment of remuneration to the
employees of competitors, etc..
     (3) Not to damage the reputation of competitors by a malicious accusation.
     (4) Not to compete in terms of price, commission, or dumping wrongfully from the criteria to acquire the business.
     (5) Not to cooperate with other insurance companies to “fix” the insurance rates which unfairly takes advantage of the insured person.

7. Policies on social and public responsibility

     (1) Be responsible for and commit to the environment care as well as the customs and tradition of the community where the organization is located.
     (2) Run activities to jointly build creativity to the society, community, and environment regularly to make the community in which Company is
located have better quality of life by setting up by itself and cooperating with the government and community.
     (3) Respond very quickly and effectively to events that have an impact on the environment and community due to the operation of the Company
by full cooperation with government officials and related agencies.

8. Guideline for anti-corruption practices

     The Board of Directors management and staff must comply the following policies :
          (1) The Company prohibits its directors, executives and staffs from committing all kinds of corruption, directly or indirectly for the benefit of Company
or their own behalf.
          (2) Employee shall avoid taking present, souvenir or sponsorship from customer or trading partner of the value more than 2,000 baht. If it is necessary
to take or receive such present or sponsorship of the value more than such amount, the Company shall be informed and such present or sponsorship shall be forwarded to the Company.
          (3) Present, souvenir, hospitality, reception and other relevant benefit shall be reasonably given subject to circumstances, norm and tradition, with
an aim in consistent with anti-corruption policy. The value of the above shall not exceed 5,000 baht at a time and under the name of the Company only. If it is necessary to give the above more than the said amount, it is required to seek for approval from deputy managing director or higher.9.

9. Policy Violation

     The Company considers compliance with policy on Code of Conduct as significant issue to which all directors, executives and staffs shall strictly adhere. Violation or failure to comply with shall be deemed misconduct subject to punishment according to the Company’s rules and regulations and/or other relevant legal provision.


Given on Date 26 October 2015

Somboon Fusriboon

(Mr. Somboon Fusriboon)

Managing Director

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