Latest Japan Headlines
All the headlines from our Japan Topic Page, ordered by recency.
Willis Japan Appoints Enomoto New Retail CEO
Apr 5 2012 // Willis Group Holdings has appointed Yoshihide ‘Dean’ Enomoto as President and CEO of its retail brokerage business in Japan. The announcement coincides with news that the global insurance broker has opened a...
China P&I Club to Stop Indemnity Coverage for Tankers with Iran Oil
Apr 5 2012 // Key ship insurer, China P&I Club, will halt indemnity coverage for tankers carrying Iranian oil as of July amid tightening Western sanctions against OPEC’s second largest oil producer, two club officials told...
Starr Indemnity Receives Foreign, Non-Life Insurance License in Japan
Apr 3 2012 // Starr Indemnity & Liability Company announced that the Japanese Financial Services Agency (FSA) has granted it a foreign, non-life insurance business license in Japan. The license allows Starr to offer approved...
Marsh Acquires Cosmos Services, a U.S. Brokerage Unit of Itochu Corp.
Apr 2 2012 // Marsh, a wholly-owned subsidiary of New York-based Marsh & McLennan Companies, acquired Cosmos Services (America) Inc., the U.S. insurance brokerage subsidiary of global trading firm Itochu Corporation. Terms of the...
Iran Oil Costs to Surge with EU Ship Insurance Ban
Mar 29 2012 // A widely expected ban on European insurance cover for Iranian oil exports from July 1 is threatening to curtail shipments and raise costs for major buyers such as Japan and South Korea, insurance industry sources say. Last...
$370 Billion Econ. Losses for 2011; $116 Billion Insured, Says Swiss Re
Mar 28 2012 // Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer...
EU Agrees to Some Iran Oil Insurance Exemptions – Until July
Mar 23 2012 // The European Union will allow some insurance on Iranian oil shipments before its full embargo starts on July 1, member states agreed on Thursday, responding to concerns from Asian importers heavily reliant on the EU for...
U.S. Exempts 11 Countries from Iran Oil Sanctions; China, India Exposed
Mar 21 2012 // The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian oil, but left Iran’s top customers China and India exposed to the possibility of...
EU Foreign Ministers Set Talks on Tanker Insurance for Iran Oil Embargo
Mar 16 2012 // EU foreign ministers are expected to discuss how the bloc’s Iran oil embargo will impact shipping insurance when they hold a scheduled meeting next week, an industry source said on Friday. The ministers are due to...
Japan Marks One Year Since Earthquake – Tsunami Disaster
Mar 12 2012 // People across Japan prayed and stood in silence on Sunday to remember the massive earthquake and tsunami that struck the nation one year ago, killing just over 19,000 people and unleashing the world’s worst nuclear...
Japan Refiners Eye Force Majeure Clauses Due to Lack of Insurance
Mar 2 2012 // Japanese buyers of Iran crude may ask Tehran to include a force majeure clause in contracts if they are unable to pay Iran or lift Iranian oil due to lack of insurance cover for tankers under European Union sanctions,...
Fired Olympus Boss Woodford Launches Wrongful Termination Suit
Mar 1 2012 // Michael Woodford, the former Olympus CEO, on Thursday kicks off his legal battle for wrongful dismissal on the grounds of discrimination and whistleblowing, in a UK case that will throw the spotlight back on one of...
1-5 Percent Of Tsunami Debris Could Reach West Coast
Feb 29 2012 // Tsunamis generated by the magnitude-9 earthquake in Japan last March dragged 3 million to 4 million tons of debris into the ocean after tearing up Japanese harbors and homes. Scientists believe ocean currents are carrying...
Top Japan Insurer to Cut Coverage for Ships in Iran Under Sanctions
Feb 24 2012 // Japan’s main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new European Union sanctions, officials said on Friday. Starting in July, European...
AIR Analyzes Increased Japan Risk after Tohoku-Oki Earthquake
Feb 17 2012 // Catastrophe modeling firm AIR Worldwide has released a new report – “Understanding Earthquake Risk in Japan Following the Tohoku-Oki Earthquake of March 11, 2011.” The report stresses that the “M9.0...
Japan Nuclear Plant Planned Review of Tsunami Risk- But Too Late
Feb 16 2012 // Four days before a tsunami devastated a Japanese nuclear plant, its operator promised a fuller assessment of the risk of such a disaster — but not for seven months. The disclosure in a three-page briefing paper obtained...
Best Analyzes Impact of Flood Losses on Thai Insurance Industry
Feb 10 2012 // A.M. Best Co. has released a briefing that provides updated estimates of insurers’ losses from the Thailand floods. The overall industry wide insurers’ loss estimates from the floods have increased 50 percent...
Global Mining Insurance Market Capacity Down 30% After Losses: Willis
Feb 6 2012 // In 2011, the mining insurance market was not only hit by $2.7 billion in natural catastrophe losses, but over 60 operational losses totaling $835 million. The $3.5 billion total estimate of losses facing mining insurers...
Japan Reported Ready to Join Compensation Pact for Nuclear Victims
Feb 3 2012 // Japan will join at least four other nations in a pact to help compensate victims of nuclear accidents in member countries, a newspaper reported on Friday, as it continues to grapple with the aftermath of the world’s...
Japan Governor Wants Nuclear Safety Pledge in Writing
Feb 2 2012 // Japanese governor Tokihiro Nakamura believes nuclear power is vital for the resource-poor land, but even he says the central government must put safety pledges in writing before he’ll agree to restart off-line...
