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Insurer to offer 'volcano insurance' for tourism industry in June

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Sompo Japan Nipponkoa Insurance Inc. plans to sell insurance-like instruments in June to help firms cover losses from volcanic activity, including decline in tourists, Nikkei Asian Review reported.

The first policies will come with an annual option fee of 300,000 Japanese yen ($2,733) and guarantee a payout of JPY 10 million. The instruments will be sold mainly to corporate customers in units of five or more.

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