Japan to regulate "insurance shops"
Source: Asia Insurance Review | Mar 2015
Agencies that sell insurance policies to walk-in customers will see new rules that require them to be transparent about the plans’ costs and benefits as well as disclose whether the agencies have any capital tie-up with the insurer, reported Nikkei.
The Financial Services Agency is looking to introduce the regulations on so-called insurance shops in early 2016, in conjunction with the rollout of a revised insurance law as complaints had been received about the shops selling products which earn them high commissions.