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International

Regulator starts probes into Bigmotor, Sompo over insurance fraud

September 19, 2023 Reprints

Japan's Financial Services Agency on Sept. 19 started investigating used car dealership Bigmotor Co. Ltd. and insurance firm Sompo Japan Insurance Inc. amid allegations of fraudulent insurance claims related to automobile insurance, Xinhua reported citing Kyodo News. The regulator said that the probe would focus on reported collusion between Bigmotor, which is accused of intentionally damaging vehicles during repairs to make exaggerated insurance claims and Sompo, which continued sending cars for repairs at Bigmotor despite being aware of the fraudulent activities.

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Regulator starts probes into Bigmotor, Sompo over insurance fraud

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