News - 29.03.2023

VR supports the Consumers' Association

The Consumers' Association of Iceland celebrates its 70th anniversary this month. On this occasion, VR decided to support the association by 4 million ISK. The government has also provided the organization with a grant of 3 million ISK. The association plans to use the grants to conduct an assessment of the insurance market in Iceland. Among the factors that will be investigated are the high price and terms of insurance, the legal environment and damage assessment and the form of operation of insurance companies. The aim of the study is to demonstrate the most suitable insurance system in terms of price and insurance coverage.

The Consumers' Association of Iceland approached the Minister of Trade and VR, as well as other trade unions. VR believes that a study of this kind is both important and timely for Icelandic consumers.

One of the first projects of the Consumers' Association, 70 years ago, was to coordinate the opening hours of shops in cooperation with VR. In light of that, VR is celebrating 70 years of collaboration with the association.

Photo: Ernir Eyjólfsson/Fréttablaðið