Hong Kong to require more insurance compulsory for local vessels
Time：2016-06-07
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A local working vessel under the Merchant Shipping Regulation must be insured against third party risks of deaths or personal injury up to a specified amount under the Merchant Shipping Ordinance.
The new statutory minimum amount of liability cover for the compulsory third parties risks insurance of local vessels is as follows:
(a) HK$10 million (US$1.28 billion) for a vessel permitted to carry more than 12 passengers, other than a Class I primitive vessel and a Class IV vessel not let for hire or reward; and (b) HK$5 million for a local vessel permitted to carry 12 or less than 12 passengers, a Class I primitive vessel or a Class IV vessel not let for hire or reward.
Mainland China or Macau non-convention vessels entering or remaining in Hong Kong waters are also required under the Merchant Shipping Regulation (Cap. 548F) to have an insurance policy or an indemnity arrangement against third party risks in respect of deaths or personal injuries.