The pool is organized as a distribution pool, which means that it is the companies themselves who have all contact with their policy holders, and the pool only equalises losses.
The Pool comprises :
- A Board consisting of 8 members with personal deputies. The Board supervises the Pool's activities.
- The loss committee with 5 members from the 4 largest companies. Responsible for the companies handling of losses and that all claims are equalised correctly.
- The reinsurance committee advises the Board on reinsurance matters, and an administration.
The administration is ran from a separate Pool office in the Norwegian Financial Assosiation.
In the administration there are 4 people working with the Natural Perils Pool:
||claims, statistics, programming
|Synnøve Bjerved Folkvord
||-inquiries, contact with companies,
|Jørgen Strand Nielsen
||- the loss committee, - authorities, - web , -inquiries, contact with companies,
E-mail adress to the administration:
Because of the EEA agreement, as of 1993 other companies can write insurance in the Norwegian market. As soon as a company has begun writing fire insurance in Norway, they are obliged to become members of the pool. If it is the other way around, a Norwegian policyholder wants to write its fire insurance in another country, it has to pay a fee to the pool as long as the foreign insurance company is not a member of the pool. The fee is calculated in the same way as the premium (0.012 % of the sum insured) but gives no compensation in case of an incident/accident.