New travel policies target foreign tourists

posted on December 21, 2015

Japanese nonlife insurers are developing and selling travel insurance in a bid to capitalize on demand from the record number of tourists flocking to the country.

The number of foreigners traveling to Japan between January and November jumped 48% on the year to 17.96 million, data from the Japan National Tourism Organization shows. Around 30% of visitors reportedly lack travel insurance.

MS&AD Insurance Group units Mitsui Sumitomo Insurance Group and Aioi Nissay Dowa Insurance will launch in late December insurance for Japanese hotels and leisure facilities. Companies will pay an average of around 2,000 yen to 3,000 yen ($16.20 to $24.29) per person to provide coverage for their guests, aiming to attract tourists hesitant to buy insurance themselves.

source by nikkei
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