International Cooperation

ABÍ is a member of COB, which manages so-called green card cooperation. ABÍ guarantees that a vehicle registered in a state, which is a member of COB and the multinational cooperation on the use of green cards, but is used in this country temporarily, is covered by statutory liability insurance. ABÍ also handles the settlement of damages caused by these vehicles in Iceland. ABÍ then reimburses the foreign insurance company.

The number of COB member states is now 46, of which 31 are member states of the EEA. COB's headquarters are in Brussels. Official language in all communication, incl. for damages and damage settlements, are English and French. In the case of an injured party, who turns to ABÍ with his claim for damage caused by a foreign vehicle in Iceland, the procedure is almost the same as if he were making a claim against an Icelandic insurance company. However, ABÍ's work on the settlement is different and more complicate than generally is the case, and this is due to communication and explanations regarding Icelandic compensation and insurance law with foreign insurance companies that are ultimately responsible for the compensations.

More information about COB can be found on the organization's website, http://www.cobx.org