The Hong Kong Federation of Insurers Works with Public Light Bus Associations on Insurance Premium Rate


The Hong Kong Federation of Insurers (HKFI) today (Thursday, 6 May 2010) met with representatives of public light bus (PLB) associations to explore practical ways to address the recent increase in PLB third-party liability insurance premium rate.

At the meeting, we reached common understanding with the PLB associations that premium rates would reflect the risk level involved and claims experience.

There are effective ways to improve the claims experience, i.e. to reduce accident rates by promoting good driving behaviour, providing handrails for PLB passengers, installing speed limiters, etc.

On the other hand, we have agreed to work with the PLB associations to try and combat fraudulent claims involving PLB.  Both the Hon K P Chan and the Hon Miriam Lau have agreed to approach the relevant Government authorities for assistance including the Security Bureau, the Department of Justice, the Police Force, etc.

“We appreciate the understanding of the PLB associations and pledge to work with them to combat insurance frauds involving PLB,” said Mr Harry Wong, Chairman of the General Insurance Council of the HKFI.