Mar 18 โ€ข 01:00 UTC ๐Ÿ‡ฏ๐Ÿ‡ต Japan Asahi Shimbun (JP)

Insurance companies hold back on fire insurance coverage, the circumstances of property and casualty insurance

Insurance companies in Japan are increasingly restricting fire insurance for older buildings due to rising claims and tightening profit margins.

Japanese property and casualty insurance companies are currently focusing on limiting fire insurance underwriting for older buildings, particularly those over 50 years old, as they face rising claims that significantly erode profits. In a recent gathering of insurance agents in Tokyo, members raised concerns about their inability to secure insurance for properties aging over 40 yearsโ€”a situation deemed problematic given the public interest aspect of maintaining coverage for all.

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