• Workers survey the devastation following days of heavy rain and flooding in the village of Kuma, Kumamoto Prefecture, on Wednesday. Four major Japanese nonlife insurers' plan to raise insurance premiums for homes follows a rise in insurance payouts on the back of a series of natural disasters across the country. | AFP-JIJI
    Workers survey the devastation following days of heavy rain and flooding in the village of Kuma, Kumamoto Prefecture, on Wednesday. Four major Japanese nonlife insurers' plan to raise insurance premiums for homes follows a rise in insurance payouts on the back of a series of natural disasters across the country. | AFP-JIJI

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Four major Japanese nonlife insurers plan to raise their fire insurance premiums for homes by a national average of 6 to 8 percent in January 2021, sources said Wednesday.

The first simultaneous premium hikes by the four since October 2019 will follow a rise in insurance payouts on the back of a series of natural disasters across the country.

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