JAPANESE NON-LIFE INSURERS FAILED IN 5,000 MEDICAL CLAIMS

Japan’s five largest non-life players failed to pay a combined 5,000 valid claims to policyholders with medical insurance and other so-called third-sector policies, according to the companies’ own internal investigations, which they had been required to undertake by the Financial Services Agency (FSA), reports Nikkei . Sompo Japan discovered more than 1,000 cases of non-payment; Tokio Marine & Nichido Fire discovered slightly fewer than 1,000, while Nipponkoa discovered about 700 and Aioi came across about 500. Mitsui Sumitomo had already been discovered to have incorrectly failed to pay in 927 cases after an FSA investigation earlier this year. Most of the cases involved claims filed by holders of medical insurance policies who were not paid for various valid claims, such as lost wages.