The Fair Trade Commission on Friday directed Nippon Life Insurance Co. to inform policyholders that it may have misled them through its sales practices for cancer insurance policies.
The FTC has concluded that the firm solicited new cancer insurance clients between January 2001 and November 2002 with misleading literature on its leaflets and in its sales pitches.
The insurer may thus have violated a law that bans misleading representation, FTC officials said.