Spain
Spain Title
Consorcio de Compensación de Seguros (CCS)
Spain Description
The 'Consorcio de Compensación de Seguros' (CCS), is an instrument that services the Spanish insurance sector, with an extensive historical background.
It is a public business organisation that is attached to the Ministry of Economic Affairs and Digital Transformation, 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.
Spain News and Events
News and Events
28 February 2024
Following the preliminary list of towns affected by the atypical cyclonic storms (ACS) during the period from the 17th to the 24th of October 2023, published in the informative note of the 30th of November, 2023, the CCS has requested the Spanish State Meteorology Agency (AEMET) to provide, either ex officio or on request by the insurance companies, complementary and extended explanations for certain areas, according to the different cases. Once this reviewing process had concluded, it has been confirmed that the areas affected by the extraordinary winds in abovementioned period must be extended.
26 February 2024
Based on the reports issued by the Spanish State Meteorology Agency (AEMET) in accordance with that set forth in the insurance legislation for extraordinary risks, it has been confirmed that from November, 2023 to January, 2024 twelve episodes of ACS occurred; eleven of them in the modality of extraordinary winds and one other as a tornado, in addition to those already published in the previous informative note of the 30th of November, 2023.
21/12/2023
Consorcio de Compensación de Seguros has published its 19th issue of the Digital Magazine Consorseguros, devoted to remembering the 40th anniversary of the, until today, highest loss event in CCS's history: the floodings of August 1983 in the Basque Country.