FSA Inspects 'Money Doctor' for Improper Life Insurance Sales Practices, Targets SMEs

The Japan Financial Services Agency (FSA) has initiated inspections at 'Money Doctor' amid allegations of improper sales practices related to life insurance. Reports suggest that the company prioritized products from life insurance firms that paid substantial advertising fees, raising concerns about unethical sales methods. In response to recent scandals, the FSA is also promoting easier market entry for small and medium enterprises (SMEs) in the non-life insurance sector. Additionally, the FSA is focusing on scrutinizing corporate insurance, particularly in the fire insurance category, which has been operating at a loss for an extended period.