Hong Kong’s insurance sector is expected to face record claims of HK$2.6 billion (US$334 million) related to the deadly fire in Tai Po, the worst in seven decades that claimed 55 lives and seriously damaged seven buildings, according to industry insiders.
The fire would lead to a surge in insurance payments for personal and property coverage in the coming year, they said.
The Insurance Authority on Thursday set up a special task force led by senior executives to ensure all insurance companies…
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