GIAJ enhances compliance support with new rules and seminars after leaks

It also announced the formulation of whistleblowing mechanisms.

The General Insurance Association of Japan (GIAJ) is enhancing its efforts to address industry-wide governance and compliance concerns following information leak incidents last year. 

In a statement released on 12 June, GIAJ Chairman Hiroaki Shirota detailed the measures taken since the Financial Services Agency (FSA) issued business improvement orders to four non-life insurers in March and the Personal Information Protection Commission issued guidance in April.

To prevent recurrence, the GIAJ has supported member companies through compliance seminars, surveys, and the development of new guidelines on information management. 

It also announced the formulation of whistleblowing mechanisms and updated guidance on business-related equities and the secondment of employees.

A third-party evaluation system for assessing the quality of agency operations will begin full-scale implementation in FY2026, overseen by a newly established “Council on Quality of Agency Business”. 

Enhancements to the education and examination systems for agents and solicitors will roll out starting July.

The GIAJ also reported progress under its 10th Medium-Term Master Plan, including a 1.5% year-on-year increase in earthquake insurance policies in force, reaching about 22 million as of March 2025. 

It launched the “Earthquake Loss/Damage Declaration Support System” to expedite claims after large-scale disasters, and continued regional outreach to promote earthquake insurance and disaster preparedness.