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I. Owners Corporations and Third Party Risks Insurance
Duty of the OC to procure third party risks insurance
1. Does the OC fulfill the legal requirements if it has taken out a public liability policy with an indemnity limit of HK$10 million which covers both bodily injury and property damage to a third party?
2. Should the OC procure another policy of third party risks insurance if the property management company has already procured one for the building?
Liabilities to be covered by third party risks insurance
1. Who is a third party?
2. Does the third party risks insurance need to cover property damage?
3. Does the OC have the legal obligation to take out an insurance policy to cover liabilities arising from unauthorised building works?
Minimum insured amount
Notice to owners
Report to the Land Registrar
Legal liability for failure to procure third party risks insurance
Protection for the OC and third parties
Significance of procuring third party risks insurance
II. Mandatory Building Inspection Scheme and Mandatory Window Inspection Scheme
1. What are the MBIS and MWIS?
2. Which buildings have to carry out the MBIS and/or the MWIS?
3. What are the procedures under the MBIS and MWIS?
4. What happens if unauthorized building works are identified during a mandatory building inspection?
5. What does the Government do if the statutory notice is not complied with?
III. Government subsidy, loan and/or grant
Common Area Repair Works Subsidy
Common Area Repair Works Interest-free Loan
Common Area Repair Works Hardship Grant
Third Party Risks Insurance Subsidy
Home Renovation Interest-free Loan
Home Renovation Hardship Grant
Subsidy in relation to the MBIS and MWIS
Building Maintenance Grant Scheme for Elderly Owners
Building Safety Loan Scheme
Owners’ Corporation Formation Subsidy
To help owners in need comply with the statutory requirements, the Hong Kong Housing Society (HKHS) and the Urban Renewal Authority launched the Mandatory Building Inspection Subsidy Scheme in the 4th quarter of 2012 to provide financial assistance to eligible owners.
For more details, please visit the
HKHS’s website. Top