Thailand's Office of the Insurance Commission (OIC) is expected to introduce compulsory travel insurance for foreign visitors this year, according to a report from the Bangkok Post. The insurance policy is intended to boost confidence among tourists following a series of accidents involving foreign visitors.

According to reports, a ferry disaster in Phuket which killed 47 Chinese tourists last year brought about a huge dip in visitor numbers from China which is Thailand’s largest tourism market. Overall visitor numbers were also affected after a bombing in 2015 and a military coup in 2014.

The tourism industry is a major source of income for the Thai economy and its outlook looks promising this year. The government is expecting over 40m foreign visitors who will be bringing in THB2.13tn in revenue.

If the insurance policy is implemented, visitors will be required to purchase the policy at immigration offices in airports for THB20 ($0.65) each. With a maximum duration of 30 days, the travel insurance will offer up to THB1bn of coverage in the event of death. In the event of claims, premiums collected from the insurance would be directed to the country’s Tourism Promotion Fund for covering payments.

However, the Tourism and Sports Ministry will need to approve the insurance first before the proposal is forwarded to the cabinet.