Aviation insurance provides coverage for aircraft damage and passenger injury or death resulting from an accident. Premium revenue from these policies totaled 13.7 billion yen in fiscal 1999, according to the Marine & Fire Insurance Association of Japan. To reduce risk, Japanese nonlife insurers pool all premium income and redistribute the money according to the financial standing of each firm. The plan is particularly beneficial to smaller insurers, who are unable to pay out huge sums in case an accident occurs. The bulk of the redistributed premiums is used to purchase reinsurance from foreign insurers, so trends in the overseas aviation insurance market greatly affect the market in Japan.