19 December 2025
In the three weeks since the fire at Wang Fuk Court in Tai Po, the Insurance Authority (IA) has been actively coordinating with the insurance industry to deploy resources and provide appropriate assistance to the people affected. According to the latest figures, total insurance payouts by insurers have already exceeded $257 million.
For life insurance, residents of Wang Fuk Court hold a total of approximately 10,660 policies issued by 36 insurers, primarily comprising whole life, annuity/endowment, and medical/critical illness plans. 17 insurers involved in claims cases have successfully contacted the relevant policy holders or beneficiaries regarding 149 claims. Of these, 109 claims have been settled with payouts totaling $41.5 million. Another 40 cases are being processed, involving an estimated claims amount of around $11.8 million.
For general insurance, residents of Wang Fuk Court hold a total of approximately 1,800 policies issued by 35 insurers, primarily comprising home, medical, and personal accident plans. 34 insurers involved in claims cases have successfully contacted the policy holders or claimants regarding 1,038 claims, with total payouts of around $204 million.
Mr Clement Cheung, Chief Executive Officer of the IA, said, “The IA will continue to enhance industry relief measures to proactively reach out to the people affected, helping them overcome this difficult time.”
Ms Selina Lau, Chief Executive of the Hong Kong Federation of Insurers, said, "Within an exceptionally short period, insurance companies made special arrangements to disburse over $250 million in compensation to the fire victims, underscoring the vital role of insurance in times of crisis."
Ends