JPN GIAJ Heavy Rain Damage Support

On Nov. 9, JPN GIAJ issued support measures for heavy rain damages.

  • JPN GIAJ published support measures for damages from heavy rain from Nov. 8, 2024.
  • Support Measures
  • Explained that certain types of non-life insurance policies compensate for natural disasters and guided policyholders to consult with insurance companies/agencies.
  • Grant a grace period for contract renewal and insurance premium payment for policyholders affected in Kagoshima prefecture from Nov. 8, 2024 until Jan. 31, 2025.
  • On Nov. 11, 2024, JPN CB, JPN FSA, METI issued heavy rain support, see #232952.

Regulators JPN GIAJ
Entity Types CNSM; IB; Ins
Reference PR 11/9/2024
Functions Claims/Accelerated Benefits; Compliance; Financial; Legal; Market Conduct; Product Administration; Risk
Countries Japan
Category
State
Products Accident; Insurance; Insurance-Casualty; Insurance-Property
Regions AP
Rule Type Final
Rule Date 11/9/2024
Effective Date 1/31/2025
Rule Id 232946
Linked to Rule :232952
Reg. Last Update 11/9/2024
Report Section International

Last substantive update on 11/13/2024