Japan:Tokio Marine to sell terrorism insurance ahead of the Olympics

Tokio Marine & Nichido Fire Insurance will sell insurance policies starting next month that will cover damage to facilities resulting from terrorism and violent demonstrations, the first such product in Japan.

With the Olympics in Tokyo approaching this summer, many businesses are taking a fresh look at such risks as their operations globalise, according to a report in Nikkei Asian Review. Other insurers are considering offering similar products.

Japanese insurance companies, including Tokio Marine, will partner with US-based Willis Towers Watson, an insurance brokerage, to offer a terrorism and political violence insurance product.

Japanese companies have up to now mainly focused on preparing for natural disasters and have not bothered to insure themselves against terrorism or political violence, which are rare in Japan.

Source: Asia Insurance review

For online registration follow the link