Japan News

Insurance Leaders from India, Japan to Speak at Iowa Symposium

Keynote speakers at a global insurance symposium scheduled for May in Des Moines, Iowa, will include high ranking insurance officials from Japan and India. Gov. Terry Branstad says Japan’s Vice Commissioner Masamichi Kono and the chairman of India’s Insurance Regulatory …

Highway Ceiling Collapse in Japan Kills 9

Concrete ceiling slabs fell onto moving vehicles deep inside a long Japanese highway tunnel, and authorities confirmed nine deaths before suspending rescue work Monday while the roof was being reinforced to prevent more collapses. Two vehicles caught fire in the …

Toyota to Recall 2.77 Million Vehicles for Steering, Water Pump Problems

Toyota Motor Corp said it will recall 2.77 million vehicles worldwide, including some of its popular Prius hybrid cars, for steering and water pump problems in the carmaker’s second multimillion-vehicle recall in a little over a month. The defects, which …

Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses

Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most costly occurred during a six-day …

Lloyd’s Analyzes Repercussions of Thai Flood Losses a Year Later

Lloyd’s has published an analysis of the floods that hit Thailand in October 2011, which notes that “after weeks of slowly spreading their way through many of Thailand’s provinces, flood waters eventually reached the capital city, Bangkok. There they remained …

Typhoon Jelawat Hits Okinawa; Moves on Tokyo: AIR Analysis

Typhoon Jelawat remains a powerful storm, even if its wind speed has decreased from around from 155 mph, 250km/h, it passed over Okinawa on Saturday with wind speeds over 90 mph, 144 km/h, causing extensive damage, and injuring more than …

US Renews Waivers of Iran Sanctions for Japan, EU Nations

The United States has renewed waivers on Iran sanctions for Japan and 10 European countries because they cut their purchases of the OPEC nation’s crude oil, Secretary of State Hillary Clinton said on Friday. The renewal means banks in the …

Commentary by Gordon Brown:* Europe Risks Going the Way of Japan

The good news is that Europe is no longer going the way of Greece. The sad news is that it is threatening to go the way of Japan. After years of hesitation punctuated by panic, Europe has finally accepted the …

Commentary: Iran Confident It Is Winning Sanctions War

Despite ludicrous claims to the contrary, Western sanctions have hurt Iran’s crude oil exports, but it’s also not all gloom and doom. In unsurprising, but obviously factually incorrect, remarks, the director of international affairs at the National Iranian Oil Co. …

How Iran’s Main Oil Buyers Deal with Insurance Sanctions

Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the protection and indemnity (P&I) clubs based in the EU, which dominate the marine insurance industry. …