Who owns claims Consortium?

Check the consortium file

When you take out insurance, not all risks are covered by the insurance company. There are some extraordinary situations that are covered by the Insurance Compensation Consortium (CCS). We tell you what it is, how it works and everything you need to know about the insurance compensation consortium.

It is an insurance company to which the rest of the insurance companies pay a part of the money they receive from the premiums. This is done so that it can cover some risks caused by extraordinary situations such as a natural catastrophe.

As we have already mentioned, the risks covered by the consortium are risks caused by extraordinary situations, which cannot be covered by private insurance companies, due to the large amount of money they would have to contribute in indemnities.

In addition to these extraordinary risks produced, for example, by natural phenomena or those derived from the political or social incidence of the persons subscribed to an insurance policy, it also assumes the coverage of automobile insurance not covered by private insurers, or indemnities caused by uninsured, stolen or unknown automobiles.

Who claims against the Consortium?

The request for compensation to the Consortium, both in the case of personal injury and property damage, can be submitted directly by the insured himself, by the policyholder or by their respective representatives, or through the insurance company with which the policy was taken out or the insurance agent or broker….

When can a claim be filed with the Consortium?

The damages to be claimed may be personal, or those suffered in goods and property (vehicles, real estate, etc.). If your policy includes them, loss of profits is also covered. For example, when a flood prevents a company from working for a few days.

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What damages does the Consortium cover?

The Insurance Compensation Consortium indemnifies insured damages to property and persons caused by certain natural catastrophes and violent acts in damages to property located in Spanish territory and personal damages to Spanish policyholders anywhere in the world.

Claim to the insurance consortium

In addition to these sectors, there are others with independent consumer complaint forms, such as those related to health care, food, gambling, gas and electricity supply companies…

As when you make a consumer complaint, it is important that you keep all the documentation you were given when you bought the product or used the service. It will be useful at the time of the claim and will serve as proof of the contract.

Carefully read all the pre-contract information provided by the employer, as well as the general terms and conditions before making any contract over the Internet. Do not sign anything you do not understand and ask questions before committing to a contract.

Who pays the Consortium?

As we have already mentioned in previous points, the Insurance Compensation Consortium receives part of the premiums paid by customers to their insurer. That is to say that every time you pay your insurance, whether it is home, car, life or other insurance not considered extraordinary risk, a part goes to finance this entity.

How does the Consortium indemnify?

The indemnity is determined according to the conditions of the insurance policy (insured property or person, insured capital and clauses of the policy), the appraisal by the Consortium’s expert of the damage suffered and the deductible established by law to be applied by the Consortium.

What does the Consortium indemnify?

The consortium indemnifies damages caused by natural phenomena such as floods, earthquakes, tidal waves, volcanic eruptions, cyclones or tornadoes and even meteorite falls.

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Insurance compensation consortium

Within the scope of the coverage of extraordinary risks, Law 44/2002, of November 22, 2002, allowed, under the terms and within the limits to be determined by regulation, the coverage of loss of profits as a consequence of such risks. In the field of compulsory motor vehicle civil liability insurance, Law 44/2002, dated November 22, 2002, empowered the Consortium to assume the coverage of civil liability derived from the circulation of motor vehicles exceeding the limits of compulsory insurance with respect to the risks not accepted by the insurance companies.

e) Of Law 34/2003, of November 4, 2003, amending and adapting private insurance legislation to Community regulations, its fourth article and its second additional provision, “Fractionation of the surcharge destined to finance the functions of liquidation of insurance companies by the Insurance Compensation Consortium”.

b) Of Law 44/2002, of November 22, 2002, on measures for the reform of the financial system, the third transitory provision, “Transitory regime of the Liquidation Commission of Insurance Companies”.

How to report a claim to the Consortium?

In addition, reporting damages to the Consortium is very simple, you can do it through our call center (900 222 665) or through the Consortium’s web page (www.consorseguros.es), giving the identifying data of the policy, the policyholder and the insured, the damaged risk and the account …

How many days do I have to report a claim?

Thus, according to article 16 of the Insurance Contract Law, the maximum term for notifying the insurer of the occurrence of an accident is 7 days.

How to make an insurance claim?

Make a written complaint to the Insured’s Ombudsman (appointed by the Insurer itself) or, failing this, to the Customer Service Department. First of all, the written complaint must be sent by registered mail with acknowledgement of receipt, bureaufax or any other means that provides proof of submission.

Complementary Insurance Consortium

Obviously, it is advisable not to drink alcohol or take drugs before driving. Ensuring that the driver of the vehicle is in a suitable condition to drive may also be the task of the other occupants of the vehicle.

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In addition, in order to avoid accidents, the authorities also implement measures and protocols, such as increasing alcohol controls during weekends; installing reversible and additional lanes with cones; stopping road works; limiting the celebration of sports events and events that involve the occupation of the road; restricting the circulation of trucks in general and those transporting certain goods in certain stretches, dates and hours. Likewise, numerous advices are given to encourage not to drive when the weather conditions are not suitable.

Any injured party can make a claim, regardless of the type of accident. We remind you: compensation for a traffic accident is a right that all injured parties who have suffered a mishap have.  Thus, the list of possible victims could be as follows: