Winner: Swiss Re Corporate Solutions

The Hong Kong observatory have been issuing typhoon warning signals for 100 years, with their focus being to reduce the loss of life and property destruction in the event of a typhoon.

For many Hong Kong businesses, a typhoon warning signal 8 or above can result in:

  • Loss of earnings from customers not being able to reach your store or premises.

  • Reimbursement costs from an event being cancelled or postponed.

  • Loss of revenue from reduced productivity.

When a typhoon warning signal 8 or above is issued, for safety reasons many employers will not require their employees to report for work as per government guidelines. In addition, ferry, MTR and bus services may be impacted and suspended if weather conditions deteriorate. 



  • To help solve these issues, Swiss Re Corporate Solutions created Insur8. Insur8 is the first ever typhoon warning insurance solution for businesses operating in Hong Kong. As a result of the solution, a previously uninsurable event that impacts all business in Hong Kong is now insurable. Some of the highlights include:
  • Non-damage business interruption cover against the economic impact of typhoon warning signals, which can amount to HK$4.29bn per day.
  • Simplified and transparent claims payment based on Hong Kong observatory typhoon warning signals, and no loss investigation and adjudication required.
  • Flexible and customizable coverages to meet a wide range of specific industry needs.
  • Quick pay-out – within 30 days – to improve liquidity and cashflow management.

Insur8 is a trigger-based cover (parametric) with a policy triggering in the event of a typhoon warning signal 8 or higher being hoisted. In the event of a signal 8, Hong Kong businesses lose earnings that would have been made had their business not been forced to shut down.


Due to the investment and development of infrastructure in Hong Kong, the damage to the city’s buildings is disproportionally low in comparison to the economic losses suffered. Insur8 is a non-damage business interruption solution, ensuring businesses can claim regardless of whether or not there has been physical damage to their property. 


“Tighter claims-processing framework benefiting the client.”