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Hong Kong hotel blaze may cost insurers up to $64 million


Insurance expert Chan Kin-por said that a massive fire that broke out at the 42-story Kimpton Hotel construction project in Hong Kong's Tsim Sha Tsui on March 2 could cost insurers as much as $64 million under their contractors’ all-risks cover, Asia Insurance Review reported citing The South China Morning Post. Philip Mak, chairman at Hong Kong Insurance Professionals Federation, said that the fire burned from the top floor to the lower floor of developer Empire Group Holdings' hotel, which was 90% built.

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