Insurers may be spared major losses from Japan floods: Moody's

Ratings agency Moody's Japan Kabushiki Kaisha said that recent heavy rains and floods are unlikely to cause major insured losses related to property and business interruption coverage, Asia Insurance Review reported. Soichiro Makimoto, vice president for senior analyst at Moody's Japan, said that property/casualty insurers have excluded flood risks from their base policies for mid-sized and large enterprises in most cases in Japan.

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