The Insurance Compensation Consortium (CCS), a body affiliated to the Ministry of Economy, acts as an insurer in cases of major natural disasters or events arising from political or social events, such as terrorism.
It does not depend on a public budget allocation, despite being affiliated to a Ministry; its funds come from a small contribution that private companies charge insured parties through insurance policies, which is intended to provide funds for the CCS to deal with this type of extraordinary situation.
Consequently, in order to be able to have Consortium cover, there must be a private policy for the asset damaged (home, vehicle, trading premises, etc.) and the premium must have been paid, so that the contribution to the Consortium has been made.
Those who have suffered damage but do not have an insurance policy and therefore do not have Consortium cover will only be entitled to government aid allocated to the assistance of those affected.
When catastrophic situations occur, the Consortium usually establishes on-site information points to provide more effective assistance to the injured parties. It is also possible to contact them by telephone and through their website, which details the steps to be taken.
The sensitivity of the insurance sector has been increasing over time and many insurers are already offering to act as intermediaries with the Consortium, handling claims and dealing directly with the public body, the procedure that the insured person must carry out being identical to that for any other incident managed by the insurer.
Some insurance brokers, including RibéSalat, offer this service to their customers in order to facilitate procedures with insurance companies and the Consortium.
There is no charge for this type of assistance and it is part of the service offered by the broker to protect the interests of our customers.