Japan Post Co. Ltd. and Japan Post Insurance Co. Ltd. are considering further delaying insurance sales activities until January 2020, Jiji Press reported.
The companies' insurance sales activities have been suspended since mid-July following reports of inappropriate sales practices, including charging policyholders double premiums, which might have affected more than 180,000 insurance contracts. Japan Post also improperly sold approximately 104,000 insurance policies issued by Aflac Inc., which resulted in customers being temporarily uninsured or double-charged.
The Japan Post Holdings Co. Ltd. units intend to focus on investigating damages to customers and working on preventive measures, sources told the news outlet. The companies initially planned to resume insurance sales activities in October.
Japan Post Holdings President and CEO Masatsugu Nagato is expected to announce the details through a press conference that could be held as early as Sept. 30, the sources said.
