Extent of cover

Extent of cover is based on information from the private insurance companies, as at September 2017, The Natural Catastrophe Insurance of Iceland (NTI) covers assets of ISK 11,101 billion situated all over the country. Because of the compulsory nature of the insurance, assets from relatively low risk areas such as the Capital region (55%) make up more than half of the portfolio. There are also notable exclusions from cover, such as the hydroelectric power plants in the central region which are insured separately on a facultative basis and some parts of the Aluminium smelting plants (the largest industrial concerns in Iceland) are also exempt from cover. Contents of government buildings (such as hospitals, schools, government offices and telecommunication installations) are as a matter of public policy generally not insured against fire and hence not against the catastrophes covered by the NTI.