The role of International Motor Insurance in Iceland sf. (ABÍ)

The role of ABÍ is in a nutshell as follows:

To settle damage caused by a vehicle that is registered abroad but used here in Iceland temporarily. This however only applies to vehicles that come from countries that are parties to the multinational cooperation on use of the green card, see regulation on use of foreign registered vehicles no. 267/1993 with subsequent amendments.
To provide Icelandic car insurers with international vehicle accident insurance cards, i.e. green cards, and to guarantee obligations regarding use of Icelandic vehicles in countries that are party to the green card cooperation.
To handle and/or guarantee the settlement of damage caused by uninsured or unknown vehicles in accordance with the legal rules regarding compulsory vehicle accident insurance.
To be an information centre and compensation body according to the provisions of the traffic laws.