Basic insurances for businesses
We recommend that all companies, large and small, have at minimum a business liability insurance, employee accident insurance, and property insurance.
Do not hesitate to get in touch if you have any questions—our advisors are happy to assist you.
Business liability insurance
Business liability insurance is intended for companies and operators for the purpose of compensating damage when liability arises.
Employee accident insurance
According to collective agreements, employers are required to compensate employees for accidents that occur in the course of their work. Employee accident insurance is tailored to the needs of employers to fulfill their obligations toward their staff.
Compensation amounts are based on collective agreements with labor unions. In certain cases, the insurance also applies during free time if stipulated by the collective agreements.
Property insurance
Property insurance covers items that are not part of the building structure. This includes machinery, inventory, computer equipment, furniture, and tools. The insurance compensates for damages caused by fire, and additional protection can be added for water damage, burglary, storms, and damage to refrigerated and frozen goods.
In the event of damage, there are often significant costs related to cleaning, disposal, and installation, which can be insured separately. The insurance also includes protection against natural disasters through the Icelandic Natural Catastrophe Insurance (Náttúruhamfaratrygging Íslands).
Business liability insurance
Business liability insurance is intended for companies and operators for the purpose of compensating damage when liability arises.
Employee accident insurance
According to collective agreements, employers are required to compensate employees for accidents that occur in the course of their work. Employee accident insurance is tailored to the needs of employers to fulfill their obligations toward their staff.
Compensation amounts are based on collective agreements with labor unions. In certain cases, the insurance also applies during free time if stipulated by the collective agreements.
Property insurance
Property insurance covers items that are not part of the building structure. This includes machinery, inventory, computer equipment, furniture, and tools. The insurance compensates for damages caused by fire, and additional protection can be added for water damage, burglary, storms, and damage to refrigerated and frozen goods.
In the event of damage, there are often significant costs related to cleaning, disposal, and installation, which can be insured separately. The insurance also includes protection against natural disasters through the Icelandic Natural Catastrophe Insurance (Náttúruhamfaratrygging Íslands).
FAQ from companies and self-employed individuals
Here is an overview of the main questions we receive from companies and self-employed individuals. More questions can be found in our question bank.
Businesses and self-employed individuals