In the aftermath of fraud accusations against Bigmotor, President Giichi Shirakawa of Sompo Japan steps down — acknowledging hasty decision to resume transactions with the car dealer.
Insurers are taking proactive steps to address reinsurance costs and the impact of NatCats, while post-covid conditions should positively impact claims and underwriting profitability.
Reports claim that Tokio Marine, Sompo, Mitsui Sumitomo, and Aioi Nissay Dowa conspired to offer fire insurance premiums which were significantly different from past policies.
Three members left the NZIA in April; seven more followed suit this week, with Republican anti-trust pressure raising serious doubts about the Alliance's viability.
