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JAPAN'S TAISEI FIRE TO CUT CORPORATE CLAIM PAYOUTS 26 PCT.

AsiaPulse News

| July 01, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

TOKYO, July 1 Asia Pulse - Failed Taisei Fire & Marine Insurance Co. will reduce insurance claim payouts to corporate clients by about 26 per cent, according to the company's rehabilitation plan.

The firm's receiver announced Friday that the plan had been submitted to the Tokyo District Court.

The reductions will apply to payouts on policies held by companies in order to cover fire damage to their factories, for example.

The insurer will in principle guarantee all payouts on policies held by individuals and certain small and midsize businesses.

Taisei ...

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Source: HighBeam Research, JAPAN'S TAISEI FIRE TO CUT CORPORATE CLAIM PAYOUTS 26 PCT.

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