As temperatures soar to unprecedented levels from Europe to Asia, several Japanese insurance companies have started offering plans to safeguard people who got struck down by the heat waves.
Japan’s two of the biggest insurance companies, Sompo Holdings and Sumitomo Life Insurance, are providing plans that are especially made to cover heat stroke-related medical costs.
According to the Meteorological Agency, temperatures in Tokyo hit 35 degrees Celsius for a record six days in a row in June, a month that is generally associated with a comparatively temperate rainy season. Over 14,000 people were admitted to hospitals for emergency care during the week ending July 3 due to the nationwide heat wave.
Sumitomo Life, in collaboration with SoftBank Group’s mobile payments unit PayPay, started a heatstroke insurance plan in April that costs as little as ¥100 for a day’s coverage. If purchased before 9 a.m., the policy can take effect from 10 a.m. that day, covering hospitalization and other medical costs caused by the heat and sun. The plan is the first of its kind in the industry in Japan, according to a company spokesperson, the Japan Times reported.
A Japanese newspaper Yomiuri Shimbun reported that the number of heatstroke insurance policies sold at Sumitomo Life jumped to about 6,900 on June 29 from a high of roughly 400 per day.
According to Sompo Holdings, their heatstroke insurance plan offers compensation for hospitalization, surgery, and even death brought on by sun or heat exposure. The idea was initially restricted to children, but as heat waves became more common and people began donning masks because of the epidemic, the business decided to make the product available to a wider age range.