Insurance broker TQM Corp. and partner Bangkok Insurance PCL are offering Thailand's first policy that provides coverage for the 2019 novel coronavirus, or 2019-nCoV, Bloomberg News reported.

The insurance policy, which is being offered at 299 baht, will pay holders 50,000 baht if they contract the disease, according to the report.

TQM President Unchalin Punnipa told the news outlet in a phone interview that the policy is aimed at calming the public's fears amid the coronavirus outbreak, saying that "the revenue from the new policy is unlikely to be material".

Thailand is dealing with the most number of 2019-nCoV infections outside China, where the outbreak started. The virus has so far infected more than 28,000 people, most of them in China, and killed over 565, according to the BBC.

As of Feb. 5, US$1 was equivalent to 30.99 Thai baht.