Turner Insurance News   •   September 27, 2019

The ‘Consorcio de Compensación de Seguros’ (CCS), is an organisation that services the Spanish insurance sector. With an extensive historical background, It is a public business organisation that is attached to the Ministry of Economy and Business, through the General Directorate for Insurance and Pension Funds. It performs many functions within the insurance field, and amongst which those related to coverage of extraordinary risk, compulsory vehicle insurance, combined agricultural insurance and liquidation of insurance companies stand out.

Extraordinary Risk Insurance

The Consortium compensates the damages produced by natural phenomena or those derived from political or social incidents, provided that the person or goods affected have an insurance policy. The Gota Fria last month caused chaos across the nation. Take the region of Andalusia, for example, the CCS estimates a total of 2,200 claims, of which approximately 600 correspond to the province of Almería; 800 to Granada; and another 800 to Malaga. The total estimated cost of the compensation to be paid by the CCS to the insured is approximately 12 million euros. The CCS also estimated a total of 1,220 claims from Madrid’s community. They anticipated claims for around 980 homes and 240 cars that were affected by the adverse weather conditions at a cost of around 4.5 million euros. The most affected locations have been Arganda del Rey, Velilla de San Antonio, Nuevo Baztán, Villar del Olmo , Campo Real and Daganzo.

Car Insurance

The CSS takes on the compulsory car insurance cover not accepted by private insurance companies, as well as the cover for any public organism that requests it. It also compensates the damages caused by unknown, uninsured or stolen vehicles. They cover accidents between a Spanish insured vehicle and an uninsured Spanish reg vehicle. Even if you have third party insurance only on your Spanish car and it is destroyed in a flood or has an accident with an uninsured vehicle, they will cover you and cover your damage.

Liquidation Of Insurance Companies

The Consorcio has entrusted a function of protection of creditors by insurance (insured persons, beneficiaries and third parties) contract in cases of companies in liquidation entrusted to the Consortium, or who are in a situation of bankruptcy. When an insurance company goes into liquidation their claims are handled by the management of all the claims files covered by policies signed with companies in liquidation is entrusted to the Management of Liquidation and Reorganisation of Insurance Companies.

Other Activities

In addition to the general functions of the Consorcio de Compensación de Seguros, the entity also assumes other activities within the area of Combined Agricultural Insurance, forest fire accident insurance, nuclear insurance, and others. Nuclear Insurance also enters within the Consorcio’s field along with the Environmental Damage compensation fund. They also have a reserve fund for the internationalisation risks of the Spanish Economy.

To read more about the fantastic work being carried out by The Consorcio, you can find their website here.

CSS Claims With Turner Insurance

The Consorcio is a great government body behind insurance companies and is something that should be established in the rest of the world, for example, this would resolve the problems people have in the UK if their houses are built in flood areas, not many countries in the world have anything similar.

However, it is important to point out that in the event of a claim there is a massive amount of paperwork required, some companies give the client the Consorcio phone number and tell them to get on with it. At Turner Insurance we deal with the entire claim, speak to assessors, arrange appointments, inform the clients of what paperwork is required and arrange the majority of the claim ourselves. The client will need copies of their policy book, ID, bank statement, proof of payment of insurance, quotes, and invoices too. It is a thorough process but our dedicated team is here to help from start to finish.

Also, running from the 26th of September 2019 to the 23rd of December 2019, Turner Insurance with Liberty Seguros now has a ’60€ Cashback’ offer . The more policies you can take out, the more cash you will get back! Are you already a Liberty Seguros customer? Take out a new policy: Car, Home, Life or Funeral and get 60€ Cashback for each policy! New client? The first policy will give you 30€ Cashback and you will receive 60€ from the second policy onwards. Available now, with DVK for all new Health Insurance Policies, we are offering a 36% discount! For more information, feel free to contact our team today.