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Industriforsikring AS

Industriforsikring AS is a subsidiary of Norsk Hydro ASA and the world's oldest existing self-insurance company, established on April 7, 1920.

Industriforsikring operates as a fully integrated insurance company and is licensed to take out various insurance industries such as property and interruptions, liability, breakdowns, financial lines, credit and personnel insurance for Norsk Hydro ASA and its subsidiaries. Most functions, such as underwriting, issuance of police documents, premium invoices and other administration, claims handling and accounting are performed internally, while certain functions are outsourced (asset management, risk management, compliance and actuary).

Industriforsikring is a Norwegian-registered company, and can operate as a direct insurance company based on leave of absence in most European countries, while in some countries Industriforsikring operates via local insurance network partners to ensure good local standards and compliance with local regulations.

Industriforsikring's role (direct or indirect insurance) and risk exposure vary for the different insurance industries, based on what will be the most cost-effective and comprehensive insurance solutions for Hydro, as well as good business for Industriforsikring. Normally, Industriforsikring prefers to be exposed on a primary layer.