Sompo Japan Insurance Inc. President Giichi Shirakawa will step down to take responsibility for the company’s handling of alleged fraudulent insurance claims by leading used car dealer Bigmotor Co., the company announced on Sept. 8.
A group of banks has hit the brakes on a refinancing request by scandal-hit Bigmotor Co. for 9 billion yen ($61 million) due for repayment this week, sources said.
Japan's major property insurers are suspected of having colluded over insurance premiums for corporate customers such as oil refiners, steel companies and public transportation operators, according to sources close to the matter
The president of Japanese used-car dealership Bigmotor Co. Ltd. said he will step down after revelations of fraudulent insurance claims by the company's
Japanese Used Car Executive to Step Down Over Insurance Fraud bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.