3rd March 2025

Insurance companies will handle damage assessments due to sea floods

Events where flooding from the ocean suddenly reaches land and causes damage or destruction to insured property are considered natural disasters that NTÍ insures against, and therefore the damage that occurred in the weekend's sea floods will be examined and assessed by NTI and a decision will be made regarding liability for compensation.

27th November 2024

Premium to NTÍ increased

Althingi recently approved an amendment to the Act on the Natural Catastrophe Insurance of Iceland (NTI) which authorises the agency to temporarily increase premiums by 50%.

4th June 2024

NTÍ and Þórkatla have agreed on the prioritization of properties that Þórkatla is buying in Grindavík

The Natural catastrophe insurance of Iceland (NTÍ) and Þórkatla have agreed on the prioritization of issues in Grindavík. Some of the houses that Þórkatla has bought in recent weeks in Grindavík have been damaged by the earthquakes. The purchase of around 720 residential buildings has been approved and a considerable part of them will have to go through a damage assessment by NTÍ, and some have already gone through such an assessment.

16th May 2024

Annual meeting of NTÍ

Annual meeting of NTÍ was held at Grand hotel on May 16 2024.

3rd May 2024

Annual meeting of NTI 2024

The Annual meeting of NTI will be held at Grand Hotel on May 16th at 11:30

3rd May 2024

About 500 damage claims in Grindavik

Over 500 damage claims have been reported to NTI for damages that has occurred after the disaster in Grindavik. Assessors on behalf of NTI have surveyed all properties that have been reported, save for very few properties, which owners have been unreachable.

19th April 2024

Status of damage claims 19 april 2024

A total of 498 claims have been reported after the natural disaster in Grindavik. Assessments have been completed in 370 cases, damage assessors are still processing 124 cases and 4 new cases await inspection. Of the 498 cases, 432 are residential property claims, 58 are asset claims and 8 claims are in regard to utility systems.

12th April 2024

Status of damage claims April 12th 2024

A total of 495 damage claims have been reported to NTI after the natural catastrophy in Grindavik. Assessment of 354 damage claims has been concluded, Assessors have started work on 138 cases and 3 new cases await processing. 430 of the total of 495 are damages to properties, 57 claims are for contents or liquid assets and 8 are claims of damage to utility systems in Grindavík.

5th April 2024

Information for those that plan to sell their property to Thorkatla

There has been some misunderstanding in regard to damage claims on properties that owners plan to sell to Thorkatla. For clarification NTI has confirmed the following:

19th March 2024

The process of damage assessments after a natural disaster

When NTÍ has received a notification of damage to property, an assessment request is sent to the assessor and requests that a damage assessment be carried out on the property in accordance with Act no. 55/1992 and regulation no. 770/2023 on NTÍ.