Sompo Japan expects Faxai-related payouts to exceed $1 billion
Posted On: Sep. 19, 2019 6:54 AM CST
Sompo Japan Nipponkoa Insurance Inc. expects to pay out more than 110 billion Japanese yen ($1 billion) in claims for typhoon Faxai, The Japan Times reports. The typhoon made landfall in Japan's Chiba prefecture on Sep. 9 and caused widespread damage.