image credit: Allexxandar / Freepik

Seismic events in Grindavík, Iceland may cause damages of $71.4m

December 12, 2023

Following seismic activity and a magma dike opening crevasses in Grindavík, Iceland, Hulda Ragnheiður Árnadóttir, director of the Natural Catastrophe Insurance of Iceland, has said the damage to homes and infrastructure could amount to ISK 10 billion ($71.4 million).

As per the Iceland Review (IR), the seismic events in Grindavík began in late October, with earthquakes and land deformation continuing for more than several weeks.

The town has been evacuated since November 10, with land deformation still ongoing at Svartsengi, north of Grindavík.

Read More on Reinsurance News