The Hong Kong Insurance Authority (IA) published an update on its coordination with insurers to support residents affected by the Wang Fuk Court fire in Tai Po, reporting that total insurance payouts have already exceeded HKD 257 million within three weeks of the incident. On life insurance, residents hold about 10,660 policies issued by 36 insurers, mainly whole life, annuity/endowment, and medical or critical illness plans. Seventeen insurers involved in claims cases have contacted relevant policyholders or beneficiaries on 149 claims, settling 109 for HKD 41.5 million, with a further 40 cases in progress involving an estimated HKD 11.8 million. On general insurance, residents hold about 1,800 policies issued by 35 insurers, mainly home, medical, and personal accident plans, and 34 insurers have contacted policyholders or claimants on 1,038 claims with payouts of around HKD 204 million. The IA indicated it will continue enhancing industry relief measures and proactively reaching affected residents.
Hong Kong Insurance Authority 2025-12-19
Hong Kong Insurance Authority coordinates industry support for Wang Fuk Court fire as insurance payouts exceed HKD 257 million
The Hong Kong Insurance Authority reported that insurance payouts following the Wang Fuk Court fire in Tai Po have exceeded HKD 257 million. Life insurance claims involved 17 insurers, with 109 claims settled for HKD 41.5 million and 40 cases pending. General insurance claims involved 34 insurers, with payouts totaling approximately HKD 204 million.