Photo: REUTERS file

Japan Post probe finds 9,000 cases of mis-sold insurance: report


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9,000 cases of improperly sold insurance,

Playing games with the terminology! Pressure to sell is the cause, and what they did was illegal!

7 ( +7 / -0 )


LOL. They deliberately bilked customers through a shady sales scheme.

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Once the internal investigation is concluded, Japan Post Insurance has said it will consider imposing punishments such as disqualifying insurance agents who violated law or internal rules.

Disqualifying agents for violating law? In a country where rule of law prevails, they would be prosecuted and condemned by the justice if found guilty. Oh yeah but we are talking about Japan, this is still mafia world here and these agents are not named Ghosn I guess.

5 ( +5 / -0 )

Daito hak, “In a country where rule of law prevails, they would be prosecuted and condemned by the justice if found guilty.”

This is an ongoing case and it’s possible that will happen. However that’s not something that Japan Post Insurance can do, that’s the job I’d others. It’s possible JPI might sue the agents for something but at this point disqualifying them is probably the most that they can be expected to do.

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job I’d others — job of others

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It is and was not unexpected.

JP employees are NOT professional insurance agents. To begin with, even professional agents for the insurance companies, though trained and licensed do not understand and know enough about the insurance that they sell. This is brought to light only because Japan does have "over sight" systems in place. Many insurance companies do not even have such systems in place but "adjusters" in place to "adjust" and change to "correct" any errors and mishandling made with out any open disclosures.

In the US, the banks now sell insurance and securities, hiring professionals from those industries. Even then, they have many errors and mishandling of sales.

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