Visit Iceland
Certificate of Insurance
Business liability insurance
According to Icelandic law, a person is liable for tort damages concerning any harm they cause others guiltily and unlawfully. This principle is called the culpa rule, and it is a fundamental principle of Icelandic law. If the person subject to a litigation claim for tort damages is not guilty, that person will generally speak not to be liable in tort.
The purpose of liability insurance is to pay indemnity for the insured person if they have incurred tort liability. The injured party will not have to cover their loss or damage because of shared culpability or shared accountability. Its purpose is also to pay the cost incurred by the insured party in case a tort claim is made against them. Because liability in tort is frequently a complex legal issue, the insured person must consult VÍS concerning their legal position if they are presented with a claim for tort damages regarding injury for which they are believed to be culpable. At the same time, it is recommended that the insured person read the insurance contract terms with this in mind.
The insured person’s admission of liability in tort is only binding upon him-/herself and not upon VÍS. By such an admission, the insured person, therefore, may incur a risk of personally having to pay tort damages for loss or damage that the business liability insurance policy does not cover.
Liability insurance for travel wholesalers and travel retailers
The insurance covers claims for compensation for loss or damage occurring during a package tour that begins during the period of insurance. The insurance covers loss or damage occurring during a package tour for one year after the beginning of the trip.
Loss or damage that is issued from the insured’s liability, under Act No. 80/1994 on Package Tours, due to accidents involving people or injuries caused to items due to a deficient package tour that the insured has organized or sold. The insurance is an appendix to the insured’s business liability insurance and covers only events outside the scope of that insurance.