Japan’s insurance claims reach Y23.9b end-July – GIAJ

Heavy rainfall at the beginning of the month was noted by the association.

In July, insurance claims paid reached Y23.9b whilst heavy rainfall was recorded last 7 July, according to the General Insurance Association of Japan (GIAJ).

Total claims volume reached 25.6 billion, whilst claim payments made were 23.7 billion.

Broken down, into segments coverage for fire damage saw the highest amount of claim payments of Y16.2b. This was followed by damage to own vehicle (Y7.2b) and miscellaneous casualty insurance including personal accident insurance (Y469.6m).

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The tally of accepted claims encompasses instances where insurance firms have received appeals for damage assessments, coverage queries, and policyholder contract guidance. 

The count of actual claim disbursements, along with the aggregate payout sum, incorporates estimated values. 

These statistics encompass the collective data from member entities of the General Insurance Association of Japan, the Foreign Non-Life Insurance Association of Japan, and similar groups.