Insurance companies which are currently being monitored for non-payment of insurance coverage will submit an additional 100,000 cases on non-payment on Friday to Japanâ€™s Ministry of Finance.
The group of firms does not include any which provide life insurance products. Last October, the Ministry found that the companies had failed to pay part of the insurance coverage due to customers, a figure which amounted to 8.4 billion yen ($71.3 million) distributed among 180,000 contracts.
The ministry issued a business improvement administrative order to each of them the following month.
Later, the Ministry discovered additional unpaid contracts in other major insurance companies such as Sompo Japan Insurance Inc. and Mitsui Sumitomo Insurance Co.
There are 26 insurance companies due to report new unpaid cases on Sep. 29, including Tokyo Marine Nichido, Mitsui Sumitomo., Sompo Japan, Nippon Koa Insurance Co., Aioi Insurance Co., and Nissay Dowa General Insurance Co.
The companies claim that complicated agreements on top of basic contracts to gain additional customers resulted in miscommunication with payment divisions.