More Japan Post Workers Involved in Improper Insurance Sales

Economy Politics

Tokyo, March 13 (Jiji Press)--The Japan Post Holdings Co. <6178> group said Friday that 1,725 workers have been found to be involved in improper sales practices for Japan Post Insurance Co. <7181> products, up from the earlier announced 1,447.

The workers include insurance sales personnel at post offices run by Japan Post Co. The group confirmed violations of law or internal rules in a total of 2,170 insurance contracts as of the end of February.

There still are 4,624 contracts for which such violations are suspected. The parent holding company is scheduled to complete its investigation over the insurance sales scandal by the end of this month and will decide on in-house punishments later.

The group also announced interim results of its probe on issues of multiple contracts. Of 897 people who signed 15 or more contracts in the past five years and canceled more than half of them, 418, or 47 pct, said that the content of the contracts did not match their wishes, according to the survey.

One of the dissatisfied policyholders said, "I canceled contracts in force and signed new ones as recommended by post office workers." In many improper cases, post office workers are believed to have had customers sign and cancel contracts repeatedly, with the aim of obtaining sales incentives.

[Copyright The Jiji Press, Ltd.]

Jiji Press