Proposed Partial Revision of Insurance Supervisory Guidelines
Overview
The Financial Services Agency has compiled a proposed partial revision of the Comprehensive Supervisory Guidelines for Insurance Companies and will solicit public comments. The proposal aims to restructure regulations on in-house insurance agents, establish systems for compliance with the Antimonopoly Act, and enhance monitoring of non-life insurance products for corporate customers. Comments must arrive by October 13, 2026, at 5:00 p.m. After the consultation closes, the revision is scheduled to take effect following the necessary procedures.
Key points
- The Financial Services Agency has published a proposed partial revision of the supervisory guidelines and will solicit public comments.
- Regulations on in-house insurance agents, systems for compliance with the Antimonopoly Act, and monitoring of non-life insurance products for corporate customers will be reviewed.
- Comments must arrive by October 13, 2026, at 5:00 p.m.
- Comments may be submitted by mail or online; comments by telephone will not be accepted.
Overview
The Financial Services Agency has compiled a proposed partial revision of the Comprehensive Supervisory Guidelines for Insurance Companies and will solicit public comments. The proposal reflects the recommendations of the report published on June 25, 2024, by the Expert Panel on Structural Issues and Competition in the Non-Life Insurance Industry, and the report published on December 25 of the same year by the Financial System Council's Working Group on Institutional Matters Concerning the Non-Life Insurance Industry and Other Matters.
Impact
The names of comment submitters will be disclosed together with the content of their comments if a disclosure request or similar request is made. Those wishing to remain anonymous should state this at the beginning. Descriptions that may infringe on personal identifying information or the legitimate interests of corporations or other entities may be withheld when disclosed. Appended telephone numbers and other information will be used to verify the content and confirm the submitter's position, and individual responses to comments will not be provided.
Details
The revision is aimed at restructuring regulations on in-house insurance agents, establishing systems for compliance with the Antimonopoly Act, and enhancing monitoring of non-life insurance products for corporate customers. Specific details are shown in Annex 1, the comparison table of the current and revised provisions, and Annex 2, the overview. Comments should include the submitter's name and other identifying details, occupation, contact information, and reasons, and should be submitted by mail or online. After the public comment period closes, the revision is scheduled to take effect following the necessary procedures.