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Japan's top insurers ordered by financial regulator to improve customer-data management

( March 25, 2025, 02:56 GMT | Official Statement) -- MLex Summary: Japan's four leading casualty insurance companies — Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance, and Sompo Japan Insurance — have each received business improvement orders from the Financial Services Agency. The regulator said that these non-life insurers leaked customer data of nearly 2.7 million individuals mainly through sales agents, potentially violating the personal-information protection law and the law preventing unfair competition. The FSA instructed the insurers to cultivate a culture that prioritizes compliance and customer protection, implement compliance programs, submit their respective business improvement plans by May 30, and immediately implement them.The statements, in Japanese, are attached....

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