Tightened control to prevent gangsters from getting insured

The association of Japanese non-life insurers (GIAJ) has announced that tighter control has been enforced to prevent criminals and organized gangs from getting insured and abusing the system. Information exchange between different Asian markets, database updating, and review of anti-fraud policies are some of the measures taken to address this scourge.

Insurers, members to GIAJ, are asked to terminate any contract signed directly or indirectly by individuals or companies involved in organized crime. Banks and life insurers have announced their willingness to collaborate with GIAJ.