Hong Kong Federation of Insurers (HKFI) supports the Government in mandating Owners' Corporations in procuring third party risks insurance under the Building Management Ordinance and the Building Management (Third Party Risks Insurance) Regulation. 

"We believe that the mandatory procurement of third party risks insurance by Owners' Corporations can safeguard the interests of home owners and is good for Hong Kong and our community at large," said Mr Harry Wong, Chairman of the General Insurance Council.  "We are pleased to learn that more than 95% of the buildings with Owners' Corporations have already taken out such insurance.  For the small minority of buildings which claim to have difficulties in procuring such cover, we have in place a mechanism to offer the necessary assistance."

The HKFI has contributed expertise and advice to the Government in working out the mandatory provisions in respect of the procurement of third party risks insurance by Owners' Corporations.  Since early 2009, HKFI has been conducting over 100 seminars to help Owners' Corporations understand the mandatory provisions and the importance and benefits of getting adequate insurance.