Sompo Japan to yank policy deemed too popular for comfortThe Asahi Shimbun July 10
The insurance firm fears the unexpected pace of sales could result in massive payouts.
Sompo Japan Insurance Inc. plans to discontinue sales of a barely week-old policy because it has proven too popular.
The product, introduced on July 1, has sold well beyond the company's expectations, raising fears that the nonlife insurer may eventually face overwhelming payout obligations, company sources said.
Doctor Japan, a medical insurance policy that covers the entire life of the insured, has proved popular mainly because its coverage spans an unlimited number of days in hospital.
