JAPAN GRANTS BIRTH DEFECT INSURANCE APPROVAL

THE Japanese financial watchdog has granted Tokio Marine & Nichido Fire Insurance approval to offer insurance covering some birth defects, local reports claim. Five other companies have been involved in the development of the products, according to The Nikkei, including Sompo Japan Insurance, Nipponkoa Insurance and Mitsui Sumitomo Insurance. As a result hospitals will pay a premium of Yen30,000 for each birth to insurance firms through the Japan Council for Quality Health Care. When a baby is born with cerebral palsy, the insurers will make a lump-sum payment of Yen6m to the child's family and also pay Yen1.2m a year until he or she turns 20.