Japan's general insurers to further focus on climate change for FY2021

It has also commenced its Ninth Mid-Term Business Plan.

The General Insurance Association of Japan (GIAJ) will further focus its efforts on climate change in the fiscal year 2021, according to a statement.

According to its chairman Shinichi Hirose, the GIAJ is resolved to bring together the wisdom of its member companies to address a wide range of issues, such as natural disasters and COVID-19, to medium and long-term ones like SDGs, measures related to climate change, amongst others.

For fiscal year 2020, the association focused on its three key initiatives of strengthening responses to natural disasters, better financial and general insurance literacy, and promoting operational efficiency through harmonisation and standardisation, he said.

The association has also commenced its Ninth Mid-Term Business Plan where they outlined sustainable business environment, a disaster-resilient society, and general insurance literacy as their priority issues.

“GIAJ will continue to make sustained efforts to achieve our goal of contributing to the creation of a safe and secure society through sound development and increased confidence in the general insurance industry," he said.