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

Natural catastrophe insurance of Iceland

Status of damage claims April 12th 2024

12th April 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.

Objections to damage assessment
Out of more than 300 owners who have received a formal notification about the results of damage assessment, 42 have sent in objections to the result of the damage assessment. The comments that have been received are primarily three-fold: First, the owners believe that the condition of the houses has worsened since the damage assessment was carried out, but a large part of the damage inspections were carried out before the eruption at the beginning of January. The destruction of the fire had some effect on the properties closest to the cracks. Secondly, the owners believe that the calculated damages are not enough to repair the property in question.
Thirdly, owners do not agree with assessors about whether the damage is caused by a natural disaster or by other causes, e.g. due to construction defects, dampness or inadequate finishing of the property.
When objections have been received to damage claim cases in Grindavík, the assessors have been brought back to the site to revise the previous assessment. Out of the 42 cases where objections have been received, damage assessment has yet to be carried out in seven cases.

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