JAPAN: Grand theft auto likely to hike insurance premiums
Think Japan is a mostly car crime-free country? Think again: the boss of a non-life insurance industry body this week said he was willing to hike vehicle insurance premiums following soaring thefts, which have burdened the industry with growing pay-outs. Kyodo News quoted Takeo Inokuchi, chairman of the Marine and Fire Insurance Association of Japan, saying that the surge in thefts "is a serious social problem and it has dealt setbacks to the profitability of insurers associated with motor vehicle insurance contracts."
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