It turned out {that a} whole of 37 folks had been seconded to Big Motor since 2011 by Sompo Japan, a significant non-life insurance coverage firm, as a result of drawback of fraudulent insurance coverage claims by Big Motor.
The firm defined that the seconded worker was unaware of the fraud, however plans to conduct an investigation by an outdoor lawyer to verify the info as soon as once more.
Sompo Japan Insurance was a significant shareholder in 2015, buying greater than 7% of Big Motor’s shares, however has continued to have a detailed enterprise relationship even after promoting all of its shares.
According to the corporate, a complete of 37 folks have been seconded to Big Motor since 2011.
Based on an inside investigation, the corporate has defined that the seconded worker was unaware of the fraud, however plans to conduct an investigation by an outdoor lawyer in an effort to affirm the info from an goal perspective.
On the opposite hand, main non-life insurance coverage corporations “Tokio Marine & Nichido Fire Insurance” and “Mitsui Sumitomo Insurance” additionally despatched a number of workers to Big Motor.
The three main non-life insurance coverage corporations stopped entrusting the restore of accident autos to Big Motor final summer time when the issue of fraudulent claims was found, however solely “Sompo Japan” quickly resumed enterprise.
Regarding this situation, the Financial Services Agency has a coverage of asking non-life insurance coverage corporations to report based mostly on the Insurance Business Law, and it is going to be questioned whether or not there was any drawback with the response of every firm.