It is obligatory to insure all buildings and liquid assets which are fire insured with an insurance company that has an operating license in Iceland and the insurance companies shall collect insurance premiums for the Natural Catastrophe Insurance of Iceland. It is furthermore obligatory to insure the following facilities irrespective of whether they are fire insured or not: 1. Heating utilities, water utilities and sewage utilities owned by municipalities or the State Treasury. 2. Harbour facilities owned by municipalities or the State Treasury. 3. Bridges that are 50m or longer. 4. Electrical installations, including distribution systems, dams and supply facilities owned by the state. 5. Telephone and telecommunication facilities owned by the state. 6. Ski-lifts.Facilities that are erected in spite of prohibition from the authorities or contrary to existing legal provisions, in a manner that makes it likely that there is more danger of damage to the facilities for that reason, may not be insured irrespective of whether it is fire insured or not.