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Sompo is marketing an insurance cover dedicated to volcanic activities

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Magazine Issue: 
Insurers facing the digital turning point [3]
Magazine date: 
Jul 2016

Sompo Japan Nipponkoa is now marketing guarantees that cover threats due to volcanoes. It is the first policy of its kind that includes customer loss and that grants coverage of up to 10 million USD. It is activated in the event of an announcement of a level 3 alert by Japanese meteorology agency or also based on the volcanoes considered.

The terms of the policy clearly forbid any attempt to get close to the volcano. This product has been mainly designed for commercial corporate involved in Tourism, namely in SPA resorts. It makes it possible to repair damage caused to their reputation in the event of a cancellation resulting from an eruption.

Mountain Fuji is the first to be targeted by this cover, with more volcanoes that will gradually be added to the list of insurable sites.

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Mon, 08/08/2016 - 08:50

Source URL: https://www.atlas-mag.net/en/article/sompo-is-marketing-an-insurance-cover-dedicated-to-volcanic-activities

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[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-digital-turning-point
[4] http://www.atlas-mag.net/en/article/sompo-japan-embarks-into-corporate-terrorism-insurance
[5] http://www.atlas-mag.net/en/article/regional-partnership-between-cimb-and-sompo
[6] http://www.atlas-mag.net/en/article/record-profits-for-major-japanese-non-life-insurers