Hong Kong Rail Project Moves Ahead with Insurance Appointment

26 July 2009 (Last Updated July 26th, 2009 18:30)

The $5bn Hong Kong section of the ongoing Guangzhou-Shenzhen-Hong Kong Express Rail Link project in China has moved ahead with London-based Willis Group Holdings appointed as its insurance broker. The project, set for completion in 2016, will directly link Hong Kong to Shenzhen in mainl

The $5bn Hong Kong section of the ongoing Guangzhou-Shenzhen-Hong Kong Express Rail Link project in China has moved ahead with London-based Willis Group Holdings appointed as its insurance broker.

The project, set for completion in 2016, will directly link Hong Kong to Shenzhen in mainland China, and Guangzhou to the national high-speed passenger rail network, with trains running at speeds of up to 200km/h.

The contract, awarded by Hong Kong's rapid transit railway operator MTR Corporation, covers extensive risk management support, claims handling and ongoing servicing throughout the project's duration.

The project will be insured with a construction all risk / third party liability policy, and a wrap-up owner-controlled employees compensation policy will be procured and placed in the Hong Kong market.