The House voted overwhelmingly to repeal a tax Wednesday intended to fund the Affordable Care Act, preserving tax breaks for employer-sponsored insurance plans favored by large corporations. In a reversal of the usual partisan roles, Democrats rather than Republicans led the charge to kill a ...
A probe must be conducted to get to the bottom of the scandal and steps taken to ensure it doesn't happen again.
Japan Post Insurance admits mismanaging over 90,000 policies, including duplicate premium payments
Japan Post Insurance Co. has admitted mismanagement in connection with more than 90,000 insurance policies, the biggest scandal for the country's dominant postal group since its privatization in 2007. The company on Wednesday said it has found about 22,000 cases in which customers were forced ...
22,000 cases of customer double payments uncovered at Japan Post Insurance
The insurer suspects post office employees prevented customers from canceling their old insurance contracts in an attempt to receive the full amount of sales incentives.
Sumitomo Life buys 25% stake in fintech startup Singapore Life
Sumitomo Life Insurance Co. has purchased a stake of about 25 percent in Singapore Life Pte. for $90 million in a drive to capitalize on the fintech startup's long-term growth. Sumitomo Life completed the transaction to become a major shareholder last Friday, spokesman Akira Sasaki ...
Japan urges tourists to pick up travel insurance as hospitals complain of unpaid medical bills
Municipal and prefectural governments across Japan are launching campaigns urging foreign visitors to buy travel insurance as a surge in unpaid medical bills puts pressure on hospitals' budgets. If uninsured travelers get injured or sick in Japan, they have to foot the bill for all ...
Tokio Marine, which spent $17 billion on acquisitions, says there's more to come
Tokio Marine Holdings Inc. is seeking acquisition opportunities in Asian emerging markets and elsewhere as it seeks to double profits from those regions, according to the new chief of Japan's largest property-and-casualty insurer. "We have group companies in Southeast Asia but they're small," Satoru Komiya, ...
Japan Post admits insurance and banking units engaged in improper sales to elderly people
Japan Post Holdings Co. said Monday its insurance and banking units repeatedly sold unsuitable insurance and investment trusts to elderly customers, prompting the financial watchdog to launch an investigation. Japan Post President Masatsugu Nagato said around 40 percent of the total products sold to customers ...
Japan's government plans for My Number ID cards to be used for health insurance by 2023
The government decided Tuesday to take more steps to enable people to use national identification cards in place of health insurance certificates at almost all hospitals by March 2023. The government plans to release a road map, possibly in August, containing a set of new ...
Health insurance in Japan to cover new cancer therapy that costs ¥33 million
The anti-cancer drug Kymriah will be produced by a Tokyo-based unit of Novartis AG and is expected to carry the highest price tag of any single drug in Japan.
U.S. charges Chinese hackers over giant 2015 Anthem data breach
The U.S. Justice Department announced Thursday the indictment of members of "an extremely sophisticated" Chinese hacking group that allegedly stole the personal information of more than 78 million people from health insurer Anthem in 2015. The department said the group was behind a campaign that ...
