On-site inspection at the Financial Services Agency from today to September 11, 4:26
The Financial Services Agency will begin an on-site inspection from the 11th due to the problem that Japan Post Insurance was selling insurance products inappropriately. The policy is to examine in detail the sales system of Japan Post and Japan Post and how many contracts violate the law.
With regard to Japan Post Life, there were a number of inappropriate insurance sales, such as customers not getting new insurance when they switched from an old contract to a new contract, becoming uninsured.
To understand the actual situation, the Financial Services Agency will conduct an on-site inspection based on the Insurance Business Act for Japan Post Insurance and Japan Post, which sells insurance.
On-site inspections are a policy that examines in detail how many contracts have been made in violation of laws and regulations, the actual state of the sales system, and when management has been aware of inappropriate sales.
Since there are many cases where Japan Post Insurance may have been improperly sold, about 183,000 cases, the Financial Services Agency says that the inspection may be long-term.
In addition, we plan to examine the disposal of insurance products of companies other than Japan Post Life, which Japan Post handled, based on the results of the inspection.