The Fair Trade Commission has issued orders for exclusionary measures and payment of surcharges to five companies, including damage insurance companies.
The violators are Mitsui Sumitomo Insurance, Sompo Japan Insurance, Aioi Nissay Dowa Insurance, Tokio Marine & Nichido Fire Insurance, and Kyoritsu – totaling five companies.
They were involved in nine cases of damage insurance for Keisei Electric Railway, Sendai International Airport, Tokyu, and others, where the firms coordinated their estimates, effectively restricting competition.
The commission has requested the Financial Services Agency and the General Insurance Association of Japan to thoroughly disseminate compliance with the Antimonopoly Act.
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