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Natural Catastrophe Insurance of Iceland Frontpage
Natural Catastrophe Insurance of Iceland Frontpage

Natural catastrophe insurance of Iceland

Damage inspections are going well

11th December 2023

About 270 damage claims have been received in Grindavík, of which 65 claims have been received in the last 7 days. 140 claims have been inspected already and it is expected that around 120 inspections will take place this week. There are still a few cases where an inspection cannot be arranged due to absence of owners or other reasons. Most of the reported damages are related to house property, but there are 28 reports of damage to furniture or other items.

Damage inspections going well

About 270 damage claims have been received in Grindavík, of which 65 claims have been received in the last 7 days. 140 claims have been inspected already and it is expected that around 120 inspections will take place this week. There are still a few cases where an inspection cannot be arranged due to absence of owners or other reasons. Most of the reported damages are related to house property, but there are 28 reports of damage to furniture or other items.

It is clear that processing the claims will take some time as approx. half of the properties that have been inspected have structural damage, which makes the processing more time-consuming. In each case of damage, repair methods must be analyzed and the estimated total cost of repairs assessed. The continuation of each damage case is based on a decision on the building suitability of the plots in question, as the general rule is that damages should be spent on repairs, but presumably this does not apply in all the cases of damage in question. It is clear that it will not be possible to present the results of damage assessments until after the end of the year at the earliest, but great emphasis is placed on harmonizing assessment methods to ensure that similar damages receive similar results.
Owners of property known to have suffered some damage are encouraged to report damage to their property as soon as possible at www.nti.is.

Contact us

Telephone: 575 3300

Email: nti@nti.is

Opening hours

Monday - Thursday:
9 to 15

Friday: 9 to 14

Address

Hlíðarsmári 14

201 Kópavogur