• A resident of Joso, Ibaraki Prefecture, cleans up furniture and other household items on Sept. 12 after his home was flooded. Insurers will raise premiums for fire coverage, including typhoon-related property damage, from Oct. 1. | REUTERS
    A resident of Joso, Ibaraki Prefecture, cleans up furniture and other household items on Sept. 12 after his home was flooded. Insurers will raise premiums for fire coverage, including typhoon-related property damage, from Oct. 1. | REUTERS
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In response to a number of large-scale natural disasters in recent years, which some experts attribute to climate change, there will be a hike in fire insurance premiums from October.

The move comes after the General Insurance Rating Organization of Japan (GIROJ), a nonprofit body of nonlife insurance companies, decided in July 2014 to raise benchmark rates used by member firms when setting fire insurance premiums by an average of 3.5 percent to cope with growing payouts.

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