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

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

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That is the second-highest claim on record , next to the HK$3.1 billion paid in 2018 in the wake of Typhoon Mangkhut, and much higher than the HK858 million in claims related to damage done by Typhoon Hato in 2017. The city’s 104 general insurers received a combined HK$1.54 billion worth of claims…

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