There was a thread on this in Dec if yuo scroll down the forum.
Gist - insurance isn't common in HK yet but Royal Sun Alliance are trying to alter that with a scheme promoted through SPCA, Pets Central and some other vet clinics.
Since the last thread, I do know a few people who have joined the schemes through Pets Central.
Two of them have since had problems and are planning to claim medical bills back.
Haven't seen yet if it's going to work or not.
If does, both of them will have made more than they paid in premiums for the year.
Note - you do still have to pay the bills and then claim back after. They do also put exclusions on you, and they are too new to know whether they will exclude diseases found that year in the following year (ie if found diabetic, they could cover you for that year and then exclude diabetes for the following year...)
Hope that helps.