Japan’s Financial Services Agency has decided to issue a business improvement order to Sompo Japan Insurance and its parent Sompo Holdings over fraudulent claims by used-car dealer Bigmotor, Nikkei reports, without attribution.
- FSA determined there were deficiencies in management systems; seen formally deciding on punishment by the end of Jan.
- Sompo Japan couldn’t be contacted outside business hours; Bloomberg News was unable to obtain a comment from the FSA
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Japan Penalizes Biggest Property Insurers for Price Fixing (2)
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