ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Insurance

Tokio Marine to sell terrorism insurance ahead of Tokyo Olympics

Demand seen rising as Japanese business globalizes

Tokio Marine & Nichido Fire Insurance will charge 25 million yen or more annually for coverage against damage from terrorism and political violence.   © Kyodo

TOKYO -- Tokio Marine & Nichido Fire Insurance will sell insurance policies starting in March that will cover damage to facilities resulting from terrorism and violent demonstrations, the first such product in Japan.

Japanese companies have up to now mainly focused on preparing for natural disasters and have not bothered to insure themselves against terrorism or political violence, which are rare in Japan. But with the Olympics approaching this summer, many are taking a fresh look at such risks as their businesses globalize.

Japanese insurance companies, including Tokio Marine, will partner with U.S.-based Willis Towers Watson, an insurance brokerage, to offer a terrorism and political violence insurance product. According to Tokio Marine, clients will pay annual fees of around 25 million yen ($226,000) and up for 10 billion yen in coverage for a facility in Japan.

Tokio Marine will begin selling the coverage in March. Other insurers are considering offering similar products.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more