Hong Kong Insurance Authority urges joint effort in risk management

HKIA highlighted its ongoing collaboration with insurers and academics.

The Hong Kong Insurance Authority (HKIA) chairman Stephen Yiu said regulators and policymakers must work closely with the industry to strengthen Hong Kong’s ability to withstand climate risks through better risk assessment and management frameworks.

The HKIA and the Hong Kong Federation of Insurers (HKFI) co-hosted a seminar on 12 September as part of Hong Kong Green Week, focusing on the insurance industry’s role in building climate resilience. 

Themed “Bridging Finance and Future: The Insurance Industry as a Pillar of Climate Resilience,” the event drew more than 180 participants from the insurance sector, government, academia and business.

The HKIA highlighted its ongoing collaboration with insurers and academics, including the Climate Modelling Project led jointly by the IA, HKFI’s Task Force on Green Insurance and the Hong Kong University of Science and Technology. 

Using insurers’ claims data, the project aims to provide insights for product development and improve climate risk assessment.