History
On November 1, 1948, the Property and Casualty Insurance Rating Organization (PCIRO) was established to include certain business activities of the Marine and Fire Insurance Association of Japan, such as the calculation of premium rates and analysis of claims for fire and marine insurance.
In the 1950s, a rapid rise in the number of automobiles led to a growing need to provide financial compensation to the victims of automobile accidents. The Automobile Liability Security Act, enacted in 1955, made it mandatory for every operator of a motor vehicle to carry a CALI (Compulsory Automobile Liability Insurance) policy. Voluntary automobile insurance bodily injury liability coverage thus assumed the role of coverage in excess of CALI.
Subsequently, on January 8, 1964, the Automobile Insurance Rating Organization of Japan (AIRO) separated from the PCIRO to become an independent organization which calculated premium rates for CALI and voluntary automobile insurance and conducted claims survey for CALI.
Both ratemaking organizations operated for nearly 40 years. With general trends toward deregulation and liberalization beginning in the 1990s, the PCIRO and the AIRO decided to merge their organizations for the purposes of efficiency and started operation as the Non-Life Insurance Rating Organization of Japan (NLIRO) on July 1, 2002. The organization was renamed to the General Insurance Rating Organization of Japan (GIROJ) on April 1, 2013.
