Practical Issues in Japan's Non-Mass Risk Insurance Contracts from the Perspective of U.S. Insurance Contract Theory and Practice

Puntos clave

• This research examines the discrepancies between Japan's and the U.S.'s non-mass risk insurance practices and regulatory environments.
• Comparative analysis of U.S. and Japanese insurance regulations
• Study of statistical foundations in insurance premium calculations
• Evaluation of high-risk insurance contract negotiations between insurers and clients
• Identified a strong application of the law of large numbers in Japan's insurance theory.
• Revealed limitations in flexible contract designs for high-risk insurance in Japan.
• Showed that the U.S. allows for more negotiation flexibility in non-mass insurance contracts.