Bear Insurance in Japan

Bear sightings, attacks, and damage caused by bears have soared in Japan this year. Practically every day there is something in the news about bears. Bears enter grocery stores and other businesses with automatic doors and cause damage. In tourist areas with bear sightings, the lodging facilities, campgrounds, golf courses, and other leisure services have had to close, causing loss of profits.

This month, the Japanese insurance company, Tokio Marine & Nichido Fire Insurance Company will begin selling policies to tourist businesses that cover profits in the event they are temporarily unable to operate due to bear intrusions. The policies will offer coverage for loss of profit  caused by reservation cancellations when facilities are forced to close due to bear intrusions, as well as covering the costs of installing electric fences to prevent future incidents. Up to 10 million yen will be paid out on the condition the insured business publicly announces the facility’s closure and shows proof, such as surveillance camera footage. The insurance premium is expected to be 100,000 to 500,000 yen per year, depending on the scale and location of the business. 

In September, the  company also began selling a policy that provides coverage caused by stray bullets during emergency bear shootings in populated areas.