CHINA TAIPING(HK:00966) Bei Jing Shang Bao·2025-11-27 11:40Core Viewpoint - A significant fire incident occurred at Hong Kong's Hong Fuk Court, resulting in major casualties, with the property insured by China Taiping Insurance (Hong Kong) Limited [1] Insurance Coverage Summary - The insurance plan includes property insurance for the building and common areas, public liability insurance, cash insurance, and collective personal accident insurance, with a total premium of 337,700 HKD for two years [2] - The property insurance coverage is set at 2 billion HKD, with a premium of 240,200 HKD for two years [2] - Public liability insurance covers third-party personal injury with a limit of 10 million HKD per incident and a premium of 20,000 HKD for two years, while third-party liability is covered up to 200 million HKD with a premium of 70,000 HKD for two years [2] - Cash insurance covers cash in transit and in locked drawers or safes, with coverage amounts of 100,000 HKD and 30,000 HKD respectively, each with a premium of 3,503.5 HKD for two years [2] - Collective personal accident insurance provides coverage of up to 100,000 HKD per person for participants aged 7-70, with a premium of 3,903.9 HKD for two years [2] Insurance Company Responses - The owners' corporation sought quotes from 10 insurance companies but only received a response from China Taiping Insurance, while New World Insurance declined to quote [3] - Other insurers either did not respond or were unable to provide quotes due to staffing issues, indicating a potential increase in underwriting risk during major repairs [3][4]