The total damage to buildings in Grindavík could amount to 16-17 billion ISK, which is about 105-110 million euros. The natural disaster insurance company has estimated the damage to residential buildings in Grindavík at 6.9 billion ISK (about 45.3 million euros). The extent of damage to infrastructure such as utilities, port facilities, industrial sites and commercial buildings has not yet been fully determined.
These figures were shared by Jón Örvar Bjarnason, risk analyst at the Icelandic Natural Disaster Insurance, at a seminar on earthquake risk held by the Association of Icelandic Engineers. Jón is a researcher in earthquake engineering and seismic risk at the Icelandic Natural Disaster Insurance’s main insurance department.
Infrastructure assessment not yet completed
All damaged buildings have been surveyed, but the final estimate for all cases is not yet available. The figure of 6.9 billion ISK will rise as the damage to utility systems, port infrastructure, roads and commercial buildings has not yet been quantified. The total value of insured properties in Grindavík was estimated at over 150 billion ISK (approx. 986 million euros) when the disaster began in November.
“We have many houses that are completely destroyed, where the structure collapses and is damaged where they stand near the cracks. It is not the shaking that destroys them, but the deformations and deformations of the ground that destroy and damage them,” says Jón Örvar Bjarnason.
Cover photo Mirjam Lassak: Nursing home destroyed by earthquake Willow slope in Grindavik
Documentation in the eruption area
Read it laterRemove
28. July 2024
Investment in safety – The Icelandic government has so far invested 37 million euros in lava protection projects on Reykjanes. The costs incurred for the construction of the lava protection walls and other related…Read More
