Japan General Insurance Association To review the upper limit of fire insurance contract period June 30 18:06
Shinichi Hirose, chairman of the Japan General Insurance Association, has been using fires for up to 10 years in order to make it easier to reflect the situation of disasters in insurance premiums as the balance of fire insurance to compensate for damages continues to deteriorate due to large-scale natural disasters. He clarified his idea to consider shortening the insurance policy period.
As for fire insurance, the income and expenditure has deteriorated due to a series of large-scale disasters every year over the past few years, and the performance of insurance companies has also been affected.
About this, Chairman Hirose of the Japan General Insurance Association pointed out at a press conference on 30th, "There are changes in recent disasters such as typhoon approaching and typhoon damage even in areas that have not landed until now" Did.
In addition, he said, "The risk of natural disasters and the income and expenditure of fire insurance will be difficult to predict, and it is a challenge to review the insurance premium and shorten the insurance period," he said. Revealed an idea to consider doing.
If the insurance contract period is shortened, it will be easier for an insurance company to reflect the occurrence of disasters in its insurance premiums, and it is expected that the income and expenditure will improve.
The General Insurance Association of Japan will discuss with the non-life insurance companies and groups that decide the insurance rate to review the fire insurance policy period.