Japan to reduce motor third party liability premiums

The Japanese Financial Regulatory Authority (FSA) shall reduce the compulsory motor third party liability tariffs. This decision, effective in April 2020, derives from the decline in the number of road accidents.

The use of increasingly safer vehicles explains the downward trend in motor claims in Japan. According to some sources, the drop in premiums could reach 16%. The Japanese government is to publish the exact rate at the end of January. Mandatory motor third party liability insurance, which on average amounted to 6 to 7%, has already known a decrease in 2017.

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