Consorcio de Compensación de Seguros (CCS)
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
Note on the role of the CCS in compensating insured damages during the storm that affects different geographical areas of Spain in January 2021
The Consorcio de Compensación de Seguros (CCS) is a public enterprise attached to the Ministry of Economic Affairs and Digital Transformation that compensates the damages caused by certain natural catastrophes, as long as the people and property that have been damaged are insured in the time of damage.
The new issue of Consorseguros Digital deals about the exploitation of the damage data of the extraordinary risks insurance from several perspectives. A detailed analysis of the last 25 years of the CCS Extraordinary Risks Statistics is made and the geographical distribution of the most important risk is studied in greater detail: that of flooding. The effects of two measures adopted in the last two years are also analyzed: the entry into force of the Surcharges Information System (SIR), which increases the quality of information on exposure, and the effects of reducing the extraordinary risk rate adopted in mid-2018. The issue of catastrophe data, from a more general perspective, is addressed in another collaboration that describes the different European initiatives to systematize the collection of damage data, insured and uninsured, after a catastrophe. Finally, the publication of the Agers Guide for risk management in insurance companies and a court ruling with important implications on the valuation of damages in automobile accidents are reviewed.
The contents of this issue are available in Spanish and English and, through the website of the magazine www.consorsegurosdigital.es/idioma/en, both the complete magazine and the individual articles can be downloaded in pdf format, as well as shared on the main social networks and access to all previous numbers.
Informative note about several episodes of atypical cyclonic storms occurring between the months of June and October, 2020 and about the expansion of another atypical cyclonic storm episode occurring between the end of February and the beginning of March, 2020
In the period ranging from June to October, 202, several storms have occurred that have generated strong winds in areas of the Iberian Peninsula and the Balearic and Canary Islands.
Information note about the compensation processing by the CCS due to the important floods occurring in the Valencian Community from the 4th to the 6th of November, 2020
To date, the CCS has received 11,975 requests for compensation by insured parties affected by the floods that occurred between 4th and 6th of November in the Valencian Community..
- 06 Jul
2019 CCS REPORTS ARE ONLINE
2019 CCS reports are already online, freely downloadable.
These are the Annual Report, the Activity Report (also available in English), the Social Responsibility Report and the Statistics of Extraordinary Risks corresponding to 1971-2019.
All of them are accessible at the "Publications" section of the web space "The entity".