Japan's Top P&C Insurers Tighten Commercial Policy Underwriting Amid Market Hardening
Japan's leading property and casualty insurers, controlling 90% of the market, are implementing tighter underwriting standards amid a hardening market. These changes include raising premiums, increasing deductibles, and lowering coverage limits on large commercial property and liability insurance policies. Furthermore, some insurers are introducing new exclusions for punitive damages, terrorism, and earthquake-related risks, reflecting a cautious approach to managing evolving exposures.