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Broke Insurance Co. Helps Customers

Date Posted: 2000-10-27

After the Kyoei Life Insurance Company went broke with a debt of four trillion yen, a service window was set up for customers at the Okinawa Branch Office. From October 23rd, three days after the company was declared officially bankrupt, the window was visited by about 70 customers, many of them asking for cancellation of their contracts. The facility also attracted 250 telephone calls in three days. The debt, incurred by Kyoei’s head office, is the worst ever recorded by an insurance company.

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