Japan Insurers Offering Products for "Minpaku" Operators
Tokyo, Aug. 18 (Jiji Press)--Major Japanese nonlife insurers have launched insurance products targeting operators of "minpaku" private lodging businesses.
The products cover a variety of losses arising from minpaku business operations.
As a Japanese law regulating the minpaku business took effect in June, the insurers anticipate growing demand for insurance products that cover related losses.
Aioi Nissay Dowa Insurance Co. released an insurance product for minpaku operators around the time of the minpaku law's enforcement. It compensates not only for personal injury and property damage but also losses inflicted as a result of defeats in damages suits filed by guests over acts of discrimination or defamation.
"We want to meet the needs of minpaku operators by expanding the scope of coverage," an Aioi Nissay official said.
[Copyright The Jiji Press, Ltd.]