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.
Businesses should step up their efforts to capture opportunities arising from the climate transition and leverage Hong Kong's position as an international financing centre to fund such projects, according to the city's environment secretary and other conference speakers. "There is an increasing demand for innovative solutions, products and services in various industries . including green finance, the hydrogen economy, biofuels, low-carbon technology, materials, products and services," Secretar
Hong Kong's heaviest rainstorm since records began in 1884 flooded the financial hub's streets and sent torrents of water rushing through subway stations,
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.