Insurance Agency Cancellations Surge at Bike Shops in Aftermath of Big Motor Scandal

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Following the 2023 Big Motor fraud scandal, Japan's Financial Services Agency tightened oversight, leading to a revised Insurance Business Act in June 2026. Insurers, citing cost cuts, are now imposing tough sales quotas and staffing requirements on small agencies, driving a wave of contract terminations. The number of agencies fell 7.0% year-on-year in fiscal 2024, a drop of 10,514 outlets — the steepest decline in a decade.