On duty for seventy years – now it is a review of the insurance market in Iceland.

The seventieth anniversary of the Consumer Association is being celebrated today – Lilja Dögg Alfreðsdóttir, Minister of Culture and Business, arrived with a gift at the offices of the Consumer Association with a birthday cake.

“The Consumer Association has been vigilant for 70 years, and the work of the association is certainly important for consumers. It is especially vital to pay close attention to consumer issues during times of high inflation,” said Lilja Dögg on the occasion of the milestone.

“In such a situation, the need for robust consumer oversight increases; everyone must remain alert regarding the pricing of goods and services. This is important for living standards in our fine country. I congratulate the Consumer Association on this significant milestone and look forward to further cooperation with them,” said Lilja Dögg.

Lilja Dögg presented the association with five and a half million krónur from the government and her ministry. Ragnar Þór Ingólfsson, chairman of the VR trade union, was also present and contributed four million from VR.

Lilja Dögg states in an opinion piece in Fréttablaðið today that improvements in consumer protection cannot be achieved without close and good cooperation between the government and the Consumer Association.

“I firmly believe that success can be achieved when we all pull together in the same direction. It is particularly important that consumers remain alert to the pricing of products and services and that companies do not raise prices beyond what can be considered reasonable. This is critical for living standards in our fine country.

It is my hope that the Consumer Association will continue to be the pioneering force in consumer issues that it has been and keep employers and the government focused on the matter for the long term.”

At this joyful milestone, it is stated that the funds are earmarked for a survey that the Consumer Association has long sought to implement, on the insurance market in Iceland, analysing why insurance premiums are so much higher here than in our neighbouring countries.

Breki Karlsson, chairman of the Consumer Association, said it is gratifying to find support both in word and deed. The survey is nearly fully funded, and Breki believes there is hope that other trade unions will provide financial support for what is lacking, as the survey is estimated to cost around 12 million krónur.

“However, we are now so close to full funding that we can begin seeking bids for the survey's execution,” said Breki at the milestone.

“It is gratifying on this notable day for Icelandic consumers to feel this strong support for consumers from both the labour movement and the authorities, not only in word but also in deed.”

The government of Iceland approved at its meeting to grant the Consumer Association a grant of three million krónur from its discretionary funds in celebration of the 70th anniversary of the association being celebrated today.

The aim of the grant is to support important projects upcoming at the Consumer Association, including their survey on the insurance market in Iceland and consumer rights related to insurance issues.

Last autumn, contributions to the Consumer Association were also increased in an updated service agreement between the Ministry of Culture and Business and the association. The increase aligns with the emphasis in the government’s coalition agreement on strengthening consumer associations.

Ágúst Bjarni Garðsson, Member of Parliament, agrees and celebrates that his campaign issue has been taken more seriously.

“I have been advocating for some time now that a survey of the insurance market be carried out here in the country to obtain a real comparison with those countries we like to compare ourselves to,” says Ágúst Bjarni.

Let us put everything on the line for the upcoming survey

“Breki Karlsson, chairman of the Consumer Association, and I recently had a meeting about these issues and others, and work has been ongoing since then. It’s wonderful to see this cause of mine come to fruition, and great thanks are due to Lilja Dögg Alfreðsdóttir, the minister, for securing funding for the project in collaboration with, among others, VR. I look forward to following this work and its outcomes,” said Ágúst Bjarni.