Conduct risk

japanese-insurers-reduce-capacity-withdraw-favourable-terms-to-focus-on-profitability-aon

Japan's FSA orders major insurers to improve practices following seconded employee data breaches: Report

March 25 2025

Order issued after two million customer records were inappropriately shared with primary employers.

giaj-rolls-out-trust-building-measures-and-agency-reform-initiatives

General Insurance Association of Japan rolls out trust-building measures

March 24 2025

GIAJ is spearheading efforts to enhance transparency and accountability in Japan's non-life sector following recent scandals.

allianz-australia-awp-australia-fined-a16-8m-for-misleading-travel-insurance-advertising

Supreme Court of NSW fines Allianz, AWP A$16.8m for misleading travel insurance advertising

February 28 2025

The court found both companies misrepresented policy features and coverage levels online between 2016 and 2018.

new-giaj-chairman-says-blunted-sense-of-risk-a-root-cause-of-compliance-failures

New GIAJ Chairman says "blunted sense of risk" a root cause of industry operational failures

September 23 2024

Hiroaki Shirota pledges reforms and restoration of trust following industry scandals which have weighed heavily on Japan's non-life industry.

giaj-tells-japanese-non-life-insurers-to-set-clear-deadline-to-offload-strategic-shareholdings

GIAJ tells Japan's non-life insurers to set clear deadlines for offloading of strategic shareholdings

September 20 2024

Amid regulatory pressure to reduce conflicts of interest, GIAJ sets new guidelines calling for clear timeframes on divestment of cross-held shares.

over-2-million-customer-records-leaked-in-seconded-employee-data-breach-cases-report

Over 2 million customer records leaked in Japan seconded employee data breaches: Report

August 28 2024

Japan's non-life insurers set to report to Financial Services Agency within the week over significant unauthorised sharing of rival data.

ASIC targets insurance misconduct as complaints soar and climate risks intensify

August 23 2024

The watchdog names insurance misconduct as a priority for the year ahead.

japans-major-non-life-insurers-identify-65000-fraudulent-claims-made-by-bigmotor-report

Japan's major non-life insurers identify 65,000 fraudulent Bigmotor claims - report

July 23 2024

Four major non-life insurers review claims spanning eight years, reportedly finding 30% of 236,000 claims to be fraudulent.

Japan FTC to issue cease-and-desists to non-life insurers for premium collusion - report

July 5 2024

Fair Trade Commission found four major insurers engaged in unfair trade practices, but has decided not to impose fines.

Australian Consumers Insurance Lobby calls for reforms to GI Code of Conduct

May 29 2024

ACIL proposes 52 recommendations to Code of Conduct, aiming to close loopholes and improve consumer protections in light of increasing disputes.

strata-insurance-services-under-fire-over-alleged-overcharging-of-insurance-brokerage-fees-report

Strata Insurance Services under fire for alleged overcharging of brokerage fees - report

March 23 2024

Parent company Netstrata facing heavy scrutiny over allegations of inflated insurance brokerage fees and engaging in kickback schemes, an ABC investigation reveals.

insurance-agent-banned-for-15-months-over-for-falsifying-documents

Hong Kong Insurance agent banned for 15 months for falsifying documents

March 21 2024

Document and signature falsification results in a rescinded policy, leaving client without coverage after the life insured's death.

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