COMBINED CASUALTY POLICIES GROW POPULAR IN JAPAN

A new kind of casualty policy for corporations that combines various types of cover is growing in popularity in Japan, reports Nikkei . The new policies cover liability, workers’ compensation, loss of profit and movables comprehensive cover. The combined premiums for these policies rose to ¥383.5bn in the first six months of fiscal 2006, up 7% year on year. Tokio Marine & Nichido Fire reported a rise of 18% in the new policies, with premiums reaching ¥113.1bn. Nissay Dowa recorded growth of 12%, while Sompo Japan and Mitsui Sumitomo, whose premium income has suffered this year because of short-term suspensions in sales as punishment for mispayments on claims, also saw higher premiums in this sector.