On August 10th, Tokio Marine & Nichido Fire Insurance announced that the company will release fire insurance and car insurance that recognize same-sex partners as “spouse.” With certification from Financial Services Agency, the insurances will be available as personal insurance from January, 2017.
Fire insurance allows policyholders to receive compensation when their spouse’s household belongings are damaged in a fire, however, same-sex partners are not eligible for the compensation since they are not legally treated as “spouse.” As for car insurance, same-sex partners are also excluded from benefits of “Drivers’ Discount” and “No Accident Discount” due to the current systems that compensate only policyholders and their family members for accidents and injuries. The new fire insurance and car insurance will equally treat same-sex partners and they will be eligible for compensation.
This is the first financial product that recognizes same-sex partners.
At the time of renewal, all the same-sex partners of policyholders will be eligible for compensation.
Submission of same-sex partnership certificates or documents that proves their cohabitation will be required.
“By revising the definition of ‘spouse,’ we will allow same-sex partners to receive compensation and services, too.” said, personnel from Tokio Marine & Nichido Fire Insurance.
Last year, a number of life insurance companies revised their policies to allow same- sex partners to be designated beneficiaries, but the personnel explained that they “needed certification from Financial Services Agency because revision to insurance clause is necessary in the case of non-life insurance.”