Motion on “Issues with the Mandatory Building Third Party Liability Insurance”(2011.01.14)

KP Chan on Mandatory Building Third Party Liability Insurance:

For a compulsory legal requirement that affects tenths of thousands of buildings, there is bound to be a certain amount of confusion during the initial enforcement stage. With both the Hong Kong Federation of Insurers(HKFI) and Government devoted a lot of time in issuing guidelines, issuing press releases and working with many parties, many complaint cases have been resolved. Those remaining cases are not necessarily caused by the fault of the insurance companies. In many cases, after clarification by HKFI, many policyholders are willing to pay extra premium to acquire additional coverage.

As to the request from the Hon. Kam Nai-wai for a complaint hotline, if there are cases which have not been taken care of by the HKFI, the Hon. Kam is welcome to refer them to me (KP Chan).

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