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Your Wallet Guard
Expense Coverage

Coverage for replacement costs for customers’ wallet and any personal papers and payment cards contained in the wallet that is lost, stolen or inadvertently misplaced, (e.g., left on bus) or is in an irretrievable place (e.g., fell down an elevator shaft). In addition, application fees for applying for new personal papers and/or payment cards are covered. Money, checks and transportation tickets contained in the wallet are not covered.

This plan is underwritten by AIG Insurance Hong Kong Limited. Please refer to the following for the terms, conditions and exclusions of the plan.

For details of the plan please contact AIG Insurance Hong Kong Limited at 3666-7008.

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852-3666 7008
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Terms & Conditions

Part 1 Applicable to all parts of this policy

  1. Definitions
    The definitions in this Section 1 shall apply throughout the entire the Policy
    • Cardholder” means a customer of the Policyholder who during the Policy Period holds an Eligible Card, and for these purposes a customer shall only be a Cardholder for the time span during the Policy Period he or she holds such Eligible Card.
    •  “Eligible Card” means a valid UnionPay Diamond Prestige Credit Card issued by the Policyholder which is  billed in Hong Kong. (Note: Issued bank is located Hong Kong, transaction can be overseas)
    • Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China.
    • Insurer” means AIG Insurance Hong Kong Limited.
    • Policy” means, the policy of insurance purchased by the Policyholder from the Insurer for the Cardholders which is documented in the policy agreement between the Policyholder and the Insurer.
    • Policyholder” means the policyholder whose name and address is stated in the Schedule.
    • Policy Period” means the policy period stated in the Schedule.
  2. General Exclusions
    • The exclusions set out in this Section 2 apply to throughout this entire Policy and serve to exclude coverage from this Policy notwithstanding anything stated to the contrary anywhere else in this Policy.
    • Fraud exclusion - If in any statement or declaration made in support of any claim under this Policy or if in the information given to the Insurer or designated representative in respect thereof there shall by or on behalf of the Cardholder be any suppression or concealment or any untrue or fraudulent statement or any intentional exaggeration as regards the property lost or damaged or the value or amount thereof or if any loss or damage be occasioned by or through the wilful act or with the knowledge or connivance of the Cardholder or anyone acting on behalf of the Cardholder no claim shall be payable under this Policy.
    • Sanctions exclusion - The Insurer will not be liable to provide any coverage or     make any payment hereunder if to do so would be in violation of any sanctions law or regulation which would expose the Insurer, its parent company or its ultimate controlling entity to any penalty under any sanctions law or regulation.
  3. General Conditions
    • Coverage for any Cardholder under this Policy shall immediately terminate on the termination date of this Policy or the time a Cardholder ceases to be a Cardholder, whichever is earlier, provided, however that such termination shall be without prejudice to any claim originating prior thereto.
    • In no event will duplicate or multiple Eligible Cards obligate the Insurer to pay in excess of the amounts shown in the Schedule of Benefits in the Part for any one loss covered under that Part sustained by any one individual Cardholder as a result of any one incident under this Policy. The maximum amount payable in respect of a loss where duplicate cards are held by any Cardholder will be the highest applicable benefit specified in the Schedule of Benefits in the applicable Part of this Policy to which the loss applies.
    • Only the Policyholder, Cardholders and the Insurer may enforce rights given to them under this Policy and save for giving effect to this purpose, The Contracts (Rights of Third Parties) Ordinance is hereby excluded. It is hereby noted and agreed, however that the Policyholder and Insurer in agreement can amend this  Policy or exercise any right of termination without the consent of any other parties.
  4. Governing law and Jurisdiction
    • This Policy is governed by and interpreted in accordance to the laws of Hong Kong. Any dispute will be subject to the exclusive jurisdiction of the courts of Hong Kong
  5. Personal Data
    The personal data collected during the administration of this Policy or when the Cardholder makes a claim under this Policy may be used by the Company for the purposes stated in its Data Privacy Policy (www.aig.com.hk/privacy-policy), which include administering this Policy (including obtaining reinsurance, underwriting renewals, data matching, claim processing, investigation, payment and subrogation);
    The Insurer may transfer the personal data to the following classes of persons (whether based in Hong Kong or overseas) for the purpose identified:
    • third parties providing services related to the administration of this policy, including reinsurers;
    • in the event of a claim, loss adjustors, assessors, third party administrators, emergency providers, legal services providers, retailers, medical providers and travel carriers;
    • another member of the AIG group (for all of the purposes stated in this clause )in any country; or
    • other parties referred to in the Company’s Data Privacy Policy for the purposes stated therein.



Schedule of Benefits under Section E

Product: Wallet Guard

Aggregate limit: HK$3,000

Per occurrence limit: HK$1,000

Deductible: HK$100


In addition to definitions on the GENERAL TERMS AND CONDITIONS section of this Policy, the following definitions apply to this Part E, wherever the term is used in this Part E.

Annual Aggregate Limit: means the maximum amount per Cardholder for which an Insurer is liable under this Part E during the Policy Period.

ATM means automatic teller machine.

Bank account means an account for personal use, with an authorised financial institution, against which the account holder can deposit and withdraw money, or, deposit and draw cheques.

Business means (i) a trade, profession or occupation including those conducted on a full-time, part-time or occasional basis, or, any other legal activity in which one is engaged for money or other compensation.

Burglary means the unlawful taking of the Cardholder’s property, or an attempt thereof, by a person or persons who illegally entered the Cardholder’s primary residence using force or violence with visible signs of forced entry.

Cheque means any bank draft, other than a draft with a stamped signature, drawn against deposited funds to pay a specific sum  to a specified payee on demand.

Coverage Territory : Worldwide.

Covered content means the payment cards and personal papers contained in the Cardholder’s wallet.

Credit account means any credit arrangement, from an authorised financial institution, for personal use, such as a credit card account or a car/home loan account.

Identity Theft means the unauthorized or illegal use of a Cardholder’s personal information such as his/her name or Hong Kong Identity Card number to open credit accounts or bank accounts that the Cardholder did not authorize.

Lost means no longer in the Cardholder’s possession due to having been (i) inadvertently misplaced, or, (ii) in an irretrievable place.

Money means currency, coins and bank notes in current use and having a face value.

Payment card means any ATM card, credit, charge or debit card issued by an authorised financial institution or retailer for personal use only.

Personal papers means any of the Cardholder’s official identification documents including, but not limited to, the Cardholder’s driver’s license, employment papers or passport(s).

Per Occurrence Limit means the maximum amount payable under the Policy for any single loss occurrence.

Relative means the Cardholder’s legally married spouse, parent, step-parent, parent in-law, grandparent, child, stepchild, legally adopted child, grandchild, brother, brother in-law, sister, sister in-law, son in-law, daughter in-law, uncle, aunt, niece, nephew or first cousin.

Residence means the place in which the Cardholder principally resides the majority of the time and where the Cardholder keeps the Cardholder’s personal belongings. Residence includes, but is not limited to, a single family structure, condominium unit, cooperative or apartment.

Robbery means the unlawful taking of the Cardholder’s property, by a person or person(s), using violence or the threat of violence and who has/have caused or threatened physical harm to the Cardholder, the Cardholder’s spouse and/or children under age 21.

Replacement cost means the current price of a similar item, with similar specifications.

Terrorist Act means the use or threatened use of force or violence against person or property, or commission of an act dangerous to human life or property, or commission of an act that interferes with or disrupts an electronic or communication system, undertaken by any person or group, whether or not acting on behalf of or in any connection with any organization, government, power, authority or military force, when the effect is to intimidate, coerce or harm a government, the civilian population or any segment thereof, or to disrupt any segment of the economy.   Terrorism shall also include any act which is verified or recognized as an act of terrorism by the Government of the country where the act of terrorism occurs.

Issuer means a bank or financial institution or any entity that is in Hong Kong and is participating in the Wallet Guard offering  to Cardholders.

Theft means the unlawful taking of property from the Cardholder’s care and/or custody, without consent, with the intent of gain, as a result of a robbery or a burglary.

Transportation ticket means any ticket purchased for any type of public or private transportation.

War means any declared or undeclared war or any warlike activities, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends.


The Insurer will cover the following costs, up to the per occurrence limit and aggregate limit, as shown in the Schedule of Benefits under this Part E.

  1. Replacement cost for the Cardholder’s wallet or bag if the Cardholder’s wallet or bag is either lost or the object of theft during the Policy Period, whilst the Cardholder is the holder of an Eligible Card;
  2. Application fees for new personal papers or Eligible Cards if they were in the Cardholder’s wallet when his/her wallet was either lost or the object of a theft.


The Insurer will not cover under this Part E:

  1. Costs other than those listed in Section 1, “Wallet Guard Coverage”;
  1. Money, cheques, transportation tickets or any item other than the Cardholder’s covered content that were in the Cardholder’s wallet when his/her wallet was either lost or the object of theft;
  1. Losses caused by fire, water, normal wear and tear, manufacturing defects, abuse, vermin, insects, termites, mold, wet or dry rot, bacteria, rust, cleaning or repairs, or similar events;
  2. Accidental damage to the Cardholder’s wallet and its covered content;
  1. Any fraudulent/unauthorized charges and/or withdrawals on the payment cards that were in the Cardholder’s wallet when his/her wallet was either lost or the object of a theft;
  2. Any costs related to Identity Theft;
  1. Losses that do not occur during the Policy Period;
  1. Losses that result from, or are related to, the Cardholder’s business pursuits, including any business related travel;
  1. Losses caused by the Cardholder’s or the Cardholder’s relatives’ illegal acts;
  1. Losses that the Cardholder has intentionally caused;
  1. Losses that result from the intentional actions of a relative, or actions that a relative knew of or planned;
  1. Losses due to war, invasion, act of foreign enemy, hostilities or warlike operations (whether war has been declared or not), civil war, rebellion, revolution, insurrection, civil commotion, uprising, military or usurped power, martial law, terrorism, riot or the act of any lawfully constituted authority or vandalisms of any kind; or
  2. Losses due to the order of any government, public authority, or customs’ official.


  1. Valid Account: The Eligible Card must remain valid and in good standing for payments under this Policy to be made.
  2. Notice of Claim: Written notice of claim must be given no later than thirty (30) days from the date of the loss incident. Failure to give notice within (30) days from the date of the loss incident may result in a denial of the claim. Notices should be sent to the following:
    AIG Insurance Hong Kong Limited
    Claims  Department 46/F One Island East, 18 Westlands Road, Island East, Hong Kong. Tel: (852) 3666 7008
    Languages Supported: English/Cantonese
    Call Centre Hours: 9 am to 5 pm Monday to Friday (except Public Holidays)
  3. Duties after Loss
    In the event of a covered loss, the Cardholder must:
    • Contact the Insurer at the contact details set out in this Policy within twenty four (24) hours of his/her discovery of a covered loss to obtain a claim form and instruction on what to do after a loss
    • File a police report within 24 hours of discovering a theft
    • Notify the Cardholder’s Issuer within 24 hours of discovering that the Cardholder’s wallet, with its covered content, was either lost or the object of a theft;
    • Complete, sign and return the claim form to the Insurer with all the following documents, within thirty (30) days of making the original claim:
      1. an original receipt showing the cost of the Cardholder’s wallet or bag at purchase;
      2. in the event of a theft, an official police report; and
      3. all other relevant documents the Insurer may ask the Cardholder to provide; and
    • Provide assistance and cooperate with the Insurer in investigating, evaluating and settling the claim.


Per Occurrence : The Insurer’s liability for any one incident under this Part E shall not exceed the limit stated in the Schedule of Benefits under this Part E

Aggregate : The total of all benefits paid or payable while this Policy is in force in connection with any particular Coverage  under this Part E shall not exceed the limit stated in t the Schedule of Benefits under this Part E

Deductible : Subject to the policy limits that apply, the Insurer will pay only that part of the total of all covered loss that exceeds the deductible amount shown in the Schedule of Benefits under this Part E

In the event of any discrepancy between the English and Chinese version of this document, the English version shall prevail. Copyright in this Policy is reserved. No part of this Policy may be reproduced in whole or part without the express consent of AIG Insurance Hong Kong Limited.

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