Japan insurer offers product to cover lost profits due to bear intrusions

A Japanese insurance company will begin selling a product for tourist businesses that covers lost profits in an event they are temporarily unable to operate due to bear intrusions.The product, which will be launched in December by Tokio Marine & Nichido Fire Insurance Co., is the first of its kind in the industry, covering economic damages caused by bear appearances and targeting operators of lodging facilities, golf courses, campgrounds, and other leisure businesses.Offering full coverage for profit losses caused by reservation cancellations when facilities are forced to close due to bear …READ FULL ARTICLE