Japan insurers to waive premium payments for flood victims

July 11 2018 by InsuranceAsia News Staff

Four Japanese non-life insurers — Tokio Marine & Nichido Fire, Mitsui Sumitomo Insurance, Sompo Japan Nipponkoa and Aioi Nissay Dowa Insurance — are offering a six-month waiver on premium payments to those affected by the deadly torrential rains in Western Japan.

The insurers said the waiver will apply to policyholders in areas where the disaster rescue law has been invoked.

According to an NHK report, premium payments for automobile, fire and casualty insurance contracts will be waived through to next January.

The announcement came as insurers are sending more inspectors to heavily affected areas in Japan and are ramping up staff at call centers in order to handle claims.

Even as large areas of Japan are still recovering from the recent flooding, super typhoon Maria is churning westward across the Pacific towards the Japanese Ryukyu Islands, Taiwan and China, which may bring further rain to the country.

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