Imagine slogging your whole life and being in debt just to buy a house and lose it overnight due to fire.

[CaptchaCheebeh]

Wah lau…..really no one knows what is reinsurance here……

and also for such catastrophic risks….there are additional measures for insurers to takes……

Sigh….it is a complex biz but also understandable layman and consumer may not knows the in and outs…..

That's why actuarial science peepur celery rike sibeh solid. When yang ** teachers who earn peanuts and know nothing about the world themselves neh tell us got such good lobang, end up most of us go work in farmer jod or tio scam by PAP to stardy biotech come out get scolded by Philip Yeo can only wash test tube.

 

[chongquan82]

I tried to Google the hk buildings that are on fire, seems like is public housing but not the public rental but ownself buy kind.

Idk, imagine it happen in sg to our bto. Spent so much effort to ballot and years to wait for key collection then whole fire burn it off. Carried so much debt just to end work about go home see your entire estate is gone...

Life is indeed unfair ah. Peasant stay at cramp housing all lost their home. Elite stay big house all far apart nothing happens to them.

Life already so hard but bad luck seems to only like to strike and double down at people who are trying to survive.

Edits: I'm fed up of people not reading and using their brain. In case you wanna shoot me about fire insurance.

Read my reply below.

7 buildings on fire now. What if the company don't compensate or decide this fire is act of god not covered? Big companies have all the power to twist and turn their clause to their advantage should they deem the compensation is too much. Just caz you got fire insurance not big deal.

eh

hong kong belong to china leh

its not like usa or singapore

 

[Wanderer123]

Sinkie BTO flat is fire resistant. It won’t be burned down. But of course the interior walls and ceilings will be burned.. can’t withstand the heat. That’s why hdb sell fire insurance too.

For the Hong Kong building, the units are built too congested so fire can easily spread from unit to unit. For hdb flat, there is a long corridor so harder to spread. But there is still risk of fire spread from bottom unit to the unit above.

That’s why hdb always discourages clutters crowding the corridor areas. So that people can evacuate easily and fire won’t spread so readily.

Wait till your neighbours pmd chibaboom...

 

[Joseph12]

I tried to Google the hk buildings that are on fire, seems like is public housing but not the public rental but ownself buy kind.

Idk, imagine it happen in sg to our bto. Spent so much effort to ballot and years to wait for key collection then whole fire burn it off. Carried so much debt just to end work about go home see your entire estate is gone...

Life is indeed unfair ah. Peasant stay at cramp housing all lost their home. Elite stay big house all far apart nothing happens to them.

Life already so hard but bad luck seems to only like to strike and double down at people who are trying to survive.

Edits: I'm fed up of people not reading and using their brain. In case you wanna shoot me about fire insurance.

Read my reply below.

7 buildings on fire now. What if the company don't compensate or decide this fire is act of god not covered? Big companies have all the power to twist and turn their clause to their advantage should they deem the compensation is too much. Just caz you got fire insurance not big deal.

Didn't Read in detail but this is such a big deal now and I bet many have died even via smoke inhalation
So even if insurance not bought I bet HK government will find some ways to make sure the folks don't lose out.
Even if the culprits likely can't afford to pay

 

[fortunecat]

Wait till your neighbours pmd chibaboom...

Already chibaboom many times what, never see whole building burned down before

 

[Joseph12]

eh

hong kong belong to china leh

its not like usa or singapore

CHINA do meddle but HK is still run under English law
Its not easy to convert it totally to the crazy China show trial laws like the culprit suddenly bring to court and court officials say this this this and then judge sentence him

 

[Mecisteus]

Not much ppl will care abt the details until they encounter it. Ie
1) when u buy car insur, wat is the exemptions? Wats the cap?
2) When u buy medical ISP, wat medical procedures can b claimed, hw much per day, co pay, deductibles?

I asking bros here, hw much u guys know of the above?

There are many exemptions in any insurances. You can't run away from exemptions.

But that shouldn't deter you from buying one because the basic purpose should still be valid.

TS argument of this thread is like saying what's the point of buying a new TV if it's going to be spoiled anyway.

 

[IAmChiobu12M]

There are many exemptions in any insurances. You can't run away from exemptions.

But that shouldn't deter you from buying one because the basic purpose should still be valid.

TS argument of this thread is like saying what's the point of buying a new TV if it's going to be spoiled anyway.

You clearly are twisting my meaning. I did not say no point buying rather more regulations are needed. And that poor people tends to have less protection and resistance to bad luck. If you don't understand my thread, you read again than twist my meaning.

 

[Mecisteus]

You clearly are twisting my meaning. I did not say no point buying rather more regulations are needed. And that poor people tends to have less protection and resistance to bad luck. If you don't understand my thread, you read again than twist my meaning.

You jin funny lah.

HK 1 building got fire then suddenly narrative twisted into insurance regulation and more protection needed when the HK fire insurance claim hasn't even started.

EDMW must really clap for you.

 

[IAmChiobu12M]

You jin funny lah.

HK 1 building got fire then suddenly narrative twisted into insurance regulation and more protection needed when the HK fire insurance claim hasn't even started.

EDMW must really clap for you.

I shall stop trying to explain my point since you don't get it while others do. I wonder how did you achieve FI with such understanding.

 

[iamverysmart]

That's why actuarial science peepur celery rike sibeh solid. When yang ** teachers who earn peanuts and know nothing about the world themselves neh tell us got such good lobang, end up most of us go work in farmer jod or tio scam by PAP to stardy biotech come out get scolded by Philip Yeo can only wash test tube.

While it is true big corps do have track record of not wanting to pays out…..actuarial science is there to provides robust basis of risk acceptances….

also…in this cases…the payout is reinstatement costs and professional fees…..not the cost of the property….

the art parts is about public perception and also business interests….