The National Financial Regulatory Administration guides banks and the insurance industry to provide financial security services related to the fire in Tai Po, Hong Kong, among other tasks

The National Financial Regulatory Administration announced that it will guide the banking and insurance industries to fully provide financial guarantee services related to the fire disaster in Tai Po, Hong Kong. Relevant insurance institutions must conduct thorough business inspections, proactively offer services, and scientifically allocate resources for investigation, damage assessment, and compensation funds. They should simplify procedures and optimize processes according to the principles of "compensate as much as possible, compensate quickly if possible, and reasonably pre-compensate," reflecting the warmth of insurance and the speed of claims settlement, and timely handle claims procedures for affected customers to help them restore their production and lives. The Taiping Insurance Group should strengthen overall coordination and guide relevant subsidiaries to play a leading role in direct insurance and reinsurance, enhancing insurance guarantee services.

Chinese-funded banks in Hong Kong should increase their financial service efforts to help affected customers overcome difficulties. Based on the actual situation of affected customers, they should consider providing arrangements such as deferred repayments. Relevant banking institutions should vigorously support post-disaster recovery and reconstruction, meeting the credit needs of enterprises for fire prevention, disaster relief, production transportation, and livelihood security, and efficiently handle credit approvals in accordance with the law.

Chinese-funded banks and insurance companies in Hong Kong should, based on actual conditions, quickly initiate emergency measures by opening green channels and simplifying business procedures to meet the financial needs of affected residents, such as emergency withdrawals, reissuing bank cards, and insurance claims. They should strengthen technological support, ensure smooth access to online services such as mobile banking, online banking, and remote insurance reporting, and provide safe and convenient financial services by combining online and offline methods. A donation green channel should be established to simplify the review materials for donations, ensuring that donation funds are received without delay, in compliance with regulatory requirements, to facilitate donations from enterprises and individuals from all walks of life