Types of damages

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Types of damages

Today the pool cover losses caused by landslide, storm, flood, stormflood, earthquake and volcanic eruption. The largest losses are caused by storm, the largest one occurred in 1992 throughout the west of Norway and cost NOK 1.3 billion (1992 value).

In 1995 the central parts of Norway were struck by a flood, costing close to 1 billion NOK (1995 value).

Other types of cover

The Norwegian National Scheme for Natural Damage Assistance compensates damage on objects not suitable/possible to insure against fire, such as roads, bridges, farmland and crops.  Other types of insurance may also cover for damage by natural perils as an element in an all risk insurance scheme, but as a part of the all risk insurance will not be equalised in the Pool.