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

Natural catastrophe insurance of Iceland

About 500 damage claims in Grindavik

3rd May 2024

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.

Grindavik overview

When the damage appraisers have completed damage assessment, it is presented electronically to the owners. In a cover letter sent to the owners together with the assessment, NTÍ provides a deadline to submit comments on the assessment. Comments have been received in about 10% of the cases, but comments can vary greatly. In some cases, the owners are of the opinion that something is missing from the assessment, while others consider the cost of damages to be underestimated. When comments are made, a second inspection takes place where the owners, with the appraisers, review the issues to which the comments relate.
These days, many properties are changing hands due to Thorkatla's purchase of properties in Grindavík. In cases where a purchase has been made, NTÍ's communications regarding damages is transferred to the real estate company Thorkatla from the original owners. It is important to stress that individuals who have sold their real estate to Thorkatla do not need to have completed repairs of damages that have been assessed by NTÍ before the sale. If damages have been paid out before the sale takes place, the value of the damages will be deducted from the selling price of the house. In cases where NTÍ has not paid compensation to the seller, the right to compensation is transferred to Thorkatla.

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