Experiencing a loss can be a major shock, and disagreements may sometimes arise. Therefore, cases can be referred to the appointed experts.
This committee handles disputes related to liability or the apportionment of liability in vehicle collisions. It operates under the auspices of Finance Iceland (SFF) and includes representatives from all insurance companies.
Sjóvá will submit a case to the claims committee upon customer request. The committee meets weekly, and decisions typically take one to two weeks. The process is free of charge for customers, and the committee’s decision is not binding on them.
This committee is a recognized consumer dispute resolution body, operating in cooperation with Finance Iceland (SFF) and the Consumers’ Association. Most disputes between consumers and insurance companies fall under its jurisdiction, including those related to insurance sales, distribution, and claims handling.
The committee handles cases involving liability, fault, and apportionment of fault, as well as compensation amount disputes, with the insurer’s approval. However, insured individuals and compensation beneficiaries (excluding liability claimants) can submit compensation amount disputes directly, without approval, for non-business-related insurance claims between ISK 25,000 and ISK 5,000,000, provided the incident occurred after January 1, 2022.
The committee consists of three legally qualified individuals nominated by the Ministry of Finance and Economic Affairs, the Consumers’ Association, and Finance Iceland. Processing usually takes 1–2 months from the time the case is submitted.
The committee’s rulings are not binding on the customer, but they are binding on the insurer unless the insurer notifies the customer and the committee within four weeks that it will not comply with the ruling.
To submit a case, the individual must complete an appeal form, include relevant justification and documents, and pay an appeal fee. The fee is refunded if the case is decided wholly or partly in the customer’s favor.
Referral fees:
• ISK 10,000 for an individual not acting in a business capacity
• ISK 25,000 for an individual in business
• ISK 50,000 for legal entities
The committee is located at Guðrúnartún 1, in the same building as the Consumers’ Association. More information is available at the committee's website nefndir.is.
Disputes can always be referred to the courts, regardless of whether they have been submitted to an arbitration committee. Since court proceedings are costly and time-consuming, customers are encouraged to review legal expenses insurance and possible funding options. Legal action against Sjóvá must be filed with the Reykjavík District Court.
