It is common for Iceland to experience multiple earthquakes a week.In the above photo, Iceland's seisimicity was rated by its magnitide and ranged from M. 1.4- M. 3.5 over the course of 66 earthquakes experienced this week. Iceland experiences both to a strike-slip fault interaction in Southern Iceland and off the northern coast along with dip-slip tectonic plate interaction in other areas of the Mid-Atlantic Ridge. It is along these faults that most of Iceland's earthquakes occur. They are also experienced in areas where there is volcanic activity, as well.
Engineers reinforce buildings with steel bars throughout the structure. There are also limitations on the proximity of adjacent buildings may be built near each other. This is to prevent pounding effects experienced during earthquakes. They have also adopted building codes similar to that of California and now moving towards building codes practiced in Europe's Code 8. Timber and solid concrete structures have proven to be quite robust against earthquakes so engineers have not sought to reconstruct such buildings. Locals purchase disaster insurance in order to protect their properties in the event of a high intensity earthquake.
Sources: http://www.nat-hazards-earth-syst-sci.net/10/407/2010/nhess-10-407-2010.pdf
Education Facilities and Risk Management Natural Disasters by OECD
https://www.volcanodiscovery.com/earthquakes/iceland.html
Photo taken from LogicSquaD's Blog#1 Earthquake in Iceland in May 2008
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