Commentary: Is Japan Covered For This Disaster?

As any insurance agent will readily tell you, life is fragile. And when it comes to Japan's $250 billion insurance market, the grim reaper is on a rampage. The collapse of Chiyoda Mutual Life Insurance Co. on Oct. 10 under the weight of $27 billion in debt marks the biggest corporate failure in postwar Japan. And it follows the demise of two other insurers, Daihyaku Mutual Life Insurance Co. and Taisho Life Insurance Co., so far this year.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.