Bangkok--7 Jan--4D Communication NZI, a brand of IAG Insurance (Thailand), launches its latest “Comprehensive Home Insurance” product targeting foreigners and expats, who demand a combination of home, contents, and personal effects insurance in one policy. The company is confident the latest innovation will be embraced by its target consumers. Mr. Surachai Rattayavisid, General Manager, Underwriting and Product of NZI disclosed that his company had launched “Comprehensive Home Insurance” that provides a wide variety of coverages that customers can choose to suit their needs. “The coverage starts from the house itself, to include contents inside the house and personal effects taken during trips outside of the home, which includes traveling around the world. The policy also extends protection to damages to a third party caused by persons living at the insured home, as well as accidents to domestic staff and drivers,” he said. “Comprehensive Home Insurance” is designed through years of experience and expertise of IAG, an international general insurance group, with operations in Australia, New Zealand, United Kingdom and Asia. IAG’s home insurance service has been extended to over 2.5 million homes in Australia and New Zealand. The latest comprehensive home insurance will enable foreign customers to get a more specific coverage to suit their needs. Our “Very Strong” financial rating by S&P and long experience in the insurance business have provided us a clear advantage in this market. We realize the potential of the market involving properties for foreigners such as city condominiums, rented houses and homes in vacation places, which in a way encourage insurance services to follow. Foreigners living in Thailand are in need of comprehensive insurance protection in various aspects,” he added. “Since year 2002, the number of foreigners living and working in Thailand has gone up significantly. The price of homes such as condominiums remain relatively cheap compared with that of the neighboring countries, while legal restrictions on foreigners are much less than that of other countries in the region. The number of condominium registration in 2006 as compared to 2005 expanded almost 3 times, with the biggest buyers, up to 50% of the total buyers, being people from Singapore. Condominiums in Singapore are known for their exorbitant prices. The foreigners from other countries also have increasingly purchased condominiums within tourist destinations, which is a positive sign for demand for home insurance, where “Comprehensive Home Insurance” fits in perfectly,” he concluded.