A company responding to record-high bear attacks in Japan is preparing to offer an insurance package that covers financial losses incurred by tourism businesses due to wild bears.
Record-high bear attacks in Japan this year prompted action from an insurance company called “Tokio Marine & Nichido Fire Insurance.” The company announced that an insurance package covering damages incurred by tourism businesses affected by wild bear attacks will be available for sale starting in December. The insurance will cover reservation cancellations that may occur due to bears entering tourist facilities such as hotels, golf courses, and campgrounds, and will compensate for any resulting loss of revenue. It was stated that the insurance package will also cover the costs of protective measures such as installing electric fences and bear spray.
It was noted that insurance premiums will range from 100,000 yen (approximately $750) to 500,000 yen (approximately $3,750), depending on the size of the business. Businesses wishing to cover their losses through insurance will be able to receive payments of up to 10 million yen (approximately 2.72 million lira) provided they can prove the bear attack and publicly announce that the facility has been temporarily closed.
The same company had offered another insurance package last September that covered damages that could occur due to “accidental gunfire” during bear hunts.