Frequently Asked Questions(Glossary: Insurance Terms)

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All Risks

A property insurance to cover all causes of loss unless specifically excluded.

Certificate of Insurance

A document represents the formal confirmation of the compulsory insurance and generally applies to motor and employee's compensation insurance.
For travel or marine cargo insurance, it is a slip relating to the master policy to confirm coverage and serves as a cover note.

Comprehensive Cover

This kind of Motor Insurance has the widest coverage, including both third party and "own damage". Other coverage like personal accident or medical expenses insurance are sometimes included in the private car policy.

Employee's Compensation Insurance

This insurance is compulsory for employers in Hong Kong, who are liable for death, injury or disease of employees arising out of, and, in the course of their employment.


The first amount to be borne by the insured with each claim.

Insurable Interest

"Insurable Interest" is the right of the policyholder to effect insurance, arising out of certain relationships that may exist between the policyholder and the subject matter insured. Generally speaking, if the policyholder suffers direct losses arising from the subject matter's meeting with misfortune, then Insurable Interest exists. Without Insurable Interest, insurance protection would be less speculative in nature, and not be enforceable under the law.

The most common example of Insurable Interest is the ownership of property. There are many other examples, such as being an employer of workers, or a custodian of assets.

Sometimes during the term of an insurance policy, the policyholder might end the relationship with the subject matter insured. If this happens, Insurable Interest ceases and the insurance over also automatically ends. A common example might be the sale of a car or a flat. The policyholder should take care to notify the insurer of such changes promptly.


A written document of the contract between the insured and the insurer.


The extension of an existing policy. It is an opportunity for the insured and the insurer to reconsider the terms of the contract.