Real Estate Practice

Hong Kong’s first black rainstorm of 2021 led to widespread flooding and landslides affecting residents and property. The rainstorm provides a timely reminder that we are in the prime typhoon season months of July to October where typhoons are more frequent and stronger. In 2018 Hong Kong was hit by the super typhoon Mangkhut which was the territory's strongest storm on record, causing widespread damage to homes, offices, and infrastructure. Based on a Hong Kong Federation of Insurers (HKFI) survey, the aggregated value of insurance claims for property damage was HK$2.8bn.

According to a report from Arcadia, Hong Kong tops Asia’s ranks as the city with the highest natural disasters risk. Hong Kong is considered a megacity and faces high risks from natural hazards such as heavy rainfall, storm surges, and tropical cyclones. These events often trigger floods and landslides and could cause critical damage to the city especially its real estate sector.

During the unforeseen, our Howden Real Estate team are always ready to help our clients with all of their insurance needs; providing unparalleled experience in configuring transactions and broking clients’ business into the marketplace. Sharing our extensive knowledge and expertise allows our clients to make informed risk management decisions. We will ensure all of our resources – people, knowledge, technology, and experience – come together for a single purpose; to protect our clients against events that may adversely impact their financial security and ongoing success.

Find out how we managed the risk lifecycle of our client's portfolio here.