The Hong Kong Federation of Insurers (HKFI)
Medical Insurance
Some of the insurance companies in Hong Kong will be covering hospitalization expenses, and additional hospital cash protection will be given to those under quarantine. Also, the waiting time for buying a new policy, specifically for Coronavirus will be waived off.
Employees’ Compensation Insurance
This is statutory and it protects the employee financially. The employer is liable to cover their employees if they get sick or die in the course of their employment under the Employees’ Compensation Ordinance (ECO) and the common law.
Travel Insurance
But companies will only provide coverage against hospitalization costs, treatment costs and any additional transportation costs incurred for if someone contracts the disease due to the virus.
For additional information click here.
Manulife
Manulife Hong Kong will provide the following additional protections:
- Hospital cash will be provided to each diagnosed patient at HK$600 (US$77) per day, up to 45 days
- A one-off HK$3,000 payment for those under mandatory quarantine
- A one-off family support benefit of HK$2,000
For more details click on this link.
HSBC Life
From 1st February 2020, all customers holding any HSBC Life insurance policy, and their family members, will receive a complimentary Novel Coronavirus Benefit, with coverage guaranteed for one year.