The Insurance Authority (IA) has announced that close to 85% of insurance claims from the Wang Fuk Court fire in November have been settled by insurance companies.
According to the IA, 1,032 claims or 85% of the total claims amounting to HK$510m ($65.3m) have been settled. Of the 1,030 general insurance claims, 863 claims amounting to HK$450 m have been settled. Out of the 188 long-term insurance claims, 169 claims amounting to HK$60m have been settled.
IA’s CEO Mr Clement Cheung, said, “The IA is aware that a majority of claims have been successfully settled based on the principle of treating customers fairly, and the remaining claims call for on-site inspections and damage assessments. We will continue to follow up actively with the Hong Kong Federation of Insurers.”