Iceland complaints handling

Definition of a complaint

Every kind of comment made by the consumer to his/her service provider expressing dissatisfaction, bad handling of his/her specific case or how the business relationship was generated.

Definition of a complainant

A party, whether and an individual or legal entity, which has, or has had, a business relationship with regulated parties within the financial market.

Definition of a consumer

There is no definition of "consumer" in the Insurance legislation of Iceland.

The Icelandic Act of Insurance Contracts however defines the terms “policyholder”, “the insured” and “the beneficiary” all of whom are protected as “consumer” within the Act.

Timescales

A prompt acknowledgement of the complaint, in writing, within 5 (five) business days of the complaint being made.

A final response to be provided within 4 (four) weeks of receipt of the complaint.

External Dispute Resolution

The Insurance Complaints Committee

Guðrúnartún 1 105 Reykjavík

Iceland