On 10 Jul 2025, the HKMA released the formal version of its Physical Risk Assessment Platform, enhancing its beta version launched in May 2024 with expanded hazard models, localized Hong Kong risk data, and improved user functionality. The HKMA encourages all authorized institutions to utilise the platform to strengthen their physical risk assessment capabilities, with ongoing support through training and future enhancements.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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Introduction
On 10 Jul 2025, the Hong Kong Monetary Authority (HKMA) released the formal version of the Physical Risk Assessment Platform, following the beta launch in May 2024, to enhance authorized institutions' (AIs) capacity for physical risk assessment through an improved analytical tool.
Key Enhancements
The formal version incorporates significant improvements based on user feedback from 86 AIs that registered during the beta phase (500+ users). These include expanded hazard coverage from nine to eleven models, specifically adding a tropical cyclone storm surge model and a landslide model, alongside localized archetype settings for Hong Kong buildings, Tertiary Planning Unit-level physical risk data, and updated precipitation-related flood maps. System performance and user experience were enhanced through Tertiary Planning Unit labelling, portfolio analysis visualisation, an improved account structure with secure collaborative portfolio sharing, and a streamlined interface for tracking portfolio processing status.
Implementation and Engagement
The HKMA encourages all AIs to register for the Platform, with registered institutions to receive email notifications of future updates. The Authority will continue collaborating with KPMG Advisory (Hong Kong) Limited and XDI Pty Ltd to monitor performance and explore additional enhancements, while providing supplementary training workshops to support adoption.
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