 to assess liability and compensation only after an independent committee issues its report.){kind=link}
19th July 2026 – (Hong Kong) Government‑appointed manager Hop On Management Company Limited convened a special owners’ meeting for Wang Fuk Court on Sunday, 19th July, where multiple residents pressed for clarity on insurance compensation following the estate fire. A representative of China Taiping Insurance (HK) Company Limited said the administration, upon acquiring the property titles, would also assume the HK$2 billion fire insurance claim rights, adding that the insurer must await the findings of an independent committee before determining liability and commencing the claims process.
Documents provided by residents show three policies were purchased for the estate by the owners’ corporation as policyholder: a property all‑risks policy (commonly referred to as fire insurance), a public liability policy, and a mandatory third‑party liability policy for the corporation. The fire cover includes the building structure excluding foundations, communal facilities and areas, and the condition of individual units as delivered on handover, such as ceilings, floors and walls. Household contents and private renovations by individual owners are not insured. Compensation for structural loss is to be calculated on the construction cost required to restore the building to its pre‑incident condition, subject to a maximum of HK$2 billion.
The public liability and compulsory third‑party covers address legal liabilities for bodily injury or property damage to third parties arising from negligence by the insured. On a per‑incident basis, limits are HK$20 million for public liability and HK$10 million for the mandatory owners’ corporation third‑party policy. Meeting notes recorded that residents repeatedly queried how and when the HK$2 billion limit might be accessed; the insurer reiterated that evaluation could begin only after the independent report is released and once responsibility is clarified.
A copy of the fire policy reviewed by residents identifies the insured parties as ISS EastPoint Property Management Ltd., and/or the Wang Fuk Court Owners’ Corporation, and/or individual unit owners, and/or relevant mortgagee banks. The policy period runs from 1st January 2025 to 31st December 2026, with an aggregate sum insured of HK$2 billion. The contract contains a Legal Requirements Warranty obliging the insured to comply with the Fire Services Department and Labour Department requirements, the Dangerous Goods Ordinance, the Factories and Industrial Undertakings Ordinance, and any other statutory obligations. The wording states that breach or disregard of such provisions may affect or increase the risk insured under the policy.
The policy also includes a reinstatement clause specifying that if the building is destroyed, reinstatement means rebuilding the property to a state equivalent to, but not better or more extensive than, when new. The clause allows reinstatement works to be carried out at another site and by any method suitable to the insured’s requirements, while maintaining equivalence of condition.
Separately, a confirmation letter dated 12th July 2024 from China Taiping Insurance (HK) to the estate’s major repair contractor, understood to be Hong Yip, confirms additional project‑related insurance. These comprise Contractors All Risks Insurance with a maximum sum insured of about HK$315 million and Employees’ Compensation Insurance with a limit of HK$200 million. Industry figures described the cited provisions, including statutory‑compliance and reinstatement terms, as standard features commonly found in policies of this nature.