No progress has been made in talks to obtain government assistance to set up a pool of funds to help insure businesses against potential terrorist attacks, the newly appointed chairman of the Marine and Fire Insurance Association of Japan said Monday during his first news conference as the industry head.
Similar pools have been set aside in the U.S., Canada and Britain to help businesses and property-and-casualty insurers shoulder the potentially devastating damage of an attack.
But in Japan, corporations have remained apathetic, so most property remains uncovered against terrorist attacks. This is fueling government indifference toward the pool of funds, Ken Matsuzawa said during a recent interview.