tryggingarfélögum
Tryggingarfélögum, often translated as insurance companies, are organizations that provide financial protection against specified risks. In essence, they offer a service where individuals or businesses pay a premium in exchange for a promise of compensation in the event of a loss or damage. This compensation is typically outlined in a contract known as an insurance policy.
The primary function of tryggingarfélögum is to pool risk. By collecting premiums from a large number of
Tryggingarfélögum operate in various sectors, offering a wide range of insurance products. Common types include life
The industry is regulated to ensure solvency and protect consumers. Regulations typically cover aspects such as