Sompo Japan to launch flood insurance policy with same-day payout

Posted On: Nov. 4, 2019 5:15 AM CST

Sompo Japan Nipponkoa Insurance Inc. plans to launch a flood insurance policy for businesses that pays out on the same day sensors detect a specified degree of flooding, Asia Insurance Review reports citing Nikkei Asian Review. The policy, which will be introduced earliest by March 2020, will offer fixed premiums and payouts.