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Insurance: 'Once-in-500-years' rainstorm, Typhoon Saola incurred US$244 million of claims, the second- and fourth-highest on record in Hong Kong

Hong Kong’s insurance industry received a total of HK$1.9 billion (US$243.6 million) in claims related to damage caused by a devastating black rainstorm and Typhoon Saola in September, making them the second- and fourth -highest claims on record.
Hong Kong United States Eric Hui Hong Kong Wong Tai Insurance Authority Hong Kong Federation Of Insurers
Source: scmp.com

Higher insurance costs ahead, with Saola and Hong Kong's worst black rainstorm expected to generate more claims than Mangkhut's US$395 million in payouts

Hong Kong businesses and vehicle owners might have to put up with higher insurance costs in the future, with claims after torrential rains over the past two weeks likely to top the HK$3.1 billion (US$395 million) paid for damages caused by Typhoon Mangkhut, industry executives said.
Hong Kong United States Emily Chow Eric Hui Jerome Jean Haegeli Hong Kong Wong Tai
Source: scmp.com

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