Preparing for risks
A common way to address probable risks is to purchase an insurance. However, there are other ways of doing so depending on the needs of a business or community.
An example would be through a small amount and short-term insurance company/facility, a captive, or creating a coverage scheme in cooperation with the reinsurance market.
Setting up a Small Amount and Short-Term Insurance (SASTI)
Small amount and short-term insurance (SASTI)
companies were regulated by the Insurance Business Act of 2006. The number of SASTI companies set up in Japan exceeds 110 today, and they offer unprecedented insurance solutions.
We provide full-range consulting services to enterprise customers in the process of considering setting up a SASTI company, including examination of regulatory submissions and introduction of actuaries
Setting up a Captive
Captive is similar to a 'self-insurance' company where its set-up enables your company to close insurance policies for the coverage you need with more favorable terms and conditions.
We support our customers from start to finish in this set-up: From feasibility study to assistance in operating the captive to the closing of insurance or reinsurance contracts.
Consultation for setting up and operating mutual aid associations
Mutual aid associations conforming to Japan’s Basic Act on Small and Medium-Sized Enterprises are intended for enterprises and subject to governmental authorization.
Our support covers the full process of mutual aid operations, ranging from its formation to support for obtaining authorization for products and operating the mutual aid association, accompanied by reinsurance arrangement and payment and settlement operations, as necessary.
We arrange reinsurance for insurance companies, small amount and short-term insurance companies and mutual aid associations. More specifically, we undertake negotiations with reinsurers in the US, Europe, or Asia to conclude reinsurance contracts and administration work after closing of contracts, including contract documentation and payment and settlement operations.