TOKYO, Nov 02 (News On Japan) –
Japan’s Fair Trade Commission has ordered 4 main insurance coverage firms — Mitsui Sumitomo Insurance, Sompo Japan, Aioi Nissay Dowa Insurance, and Tokio Marine & Nichido Fire Insurance — to pay fines totaling over 2 billion yen for collaborating to debate estimates and bid quantities, resulting in premium will increase.
On October thirty first, the Fair Trade Commission discovered these firms in violation of the Antimonopoly Act throughout a number of areas and imposed fines totaling over 2 billion yen.
Source: ANN