Insurance ordered to pay $124M to burned Thai mall

A Thai court has ordered an insurance company to pay $124 million in compensation to a major shopping mall in Bangkok that was badly burned during 2010 deadly political protests.

CentralWorld shopping complex was among dozens of buildings set on fire during a crackdown on demonstrators on May 19, 2010. The protesters had occupied Bangkok streets for nine weeks. More than 90 people were killed in the violence.

A Civil Court judge on Friday ordered Deves Insurance PCL to pay about 3.7 billion baht to the mall owner after the company refused to pay compensation.

According to the court's ruling, evidence showed that the incident was not caused by terrorism, as the insurance company had claimed in its defense.

Deves Insurance PCL said the ruling would not affect its stability.