Hong Kong’s insurance sector has introduced fast-track measures while pledging more than HK$100m (US$13m) to support those affected by the Wang Fuk Court fire.
The fire has killed at least 94 people, with insurance claims estimated at HK$2.6bn (US$334m), and general property and CAR policies described as "severely underinsured".
Insurers in Asia-Pacific are increasing their use of risk-mitigation incentives and advanced analytics as natural catastrophe losses rise across the region.
