The Insurance industry in Iceland is very small but is sustainable because of the non life insurance which provides a major portion of insurance premium. The major growth in non life insurance is driven by the strong regulatory framework put in place.
The National Health and Life Insurance scheme protects the citizens of Iceland. The Financial Supervisory Authority is the regulatory body for insurance in Iceland. The National Social security system provides healthcare needs of individual residing in Iceland. There is both social insurance and health insurance available for the protection.
Social insurance is the minimum insurance coverage financed by State Treasury , provides benefits like childbirth, pension insurance, health insurance etc.
There are also various private players that provide insurance policies to the citizens of iceland to protect from financial risk that may occur in which case the insurance companies will provide a certain amount of financial help to meet the needs.
Iceland Life Insurance Companies:
KP Lif hp
Iceland Non-Life Insurance Companies:
KB Lif Insurance
Last Updated on : 26th August 2013