The nation’s life and nonlife insurers stressed on Friday the need to use public funds in some way when insurance firms collapse because the burden would be too great for the industry to bear alone.

The requests came during a morning session of a Liberal Democratic Party panel currently considering ways to restore confidence in the domestic financial sector. The lawmakers said it was necessary to carry out careful discussion of how much impact an insurer’s collapse would have, given the current uncertainty surrounding the financial system.

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