Fair Trade Commission conducts on-site inspections of 4 main non-life insurance coverage firms and their brokers on suspicion of violating antitrust legal guidelines | NHK

The Fair Trade Commissioner has accused 4 main non-life insurance coverage firms and their brokers of forming a “cartel” wherein insurance coverage premiums for companies have been agreed upfront, and of collusion in bidding for insurance coverage contracts with native governments. It has been discovered via interviews with associated events that the corporate was topic to an on-site inspection on the nineteenth on suspicion of violating the Antimonopoly Act. Regarding the insurance coverage contracts of the 4 main firms, the Financial Services Agency will quickly situation a enterprise enchancment order based mostly on the Insurance Business Act, alleging that they’ve made unfair changes.

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