Periodically we witness the severity of the climate in its most destructive aspect. Strong blizzards, snowfalls or torrential rains of more than 250 liters per square meter that have caused floods and the overflow of river beds. These natural catastrophes are responsible for the tragic and irreparable loss of human life as well as considerable material damage. Who covers these damages?

The need arises immediately to undertake the reconstruction of homes, repair or replacement of automobiles and, in general, the replacement of all those material damages suffered. However, having been caused by extraordinary phenomena, they will not be compensated by the insurers, but by the Insurance Compensation Consortium .

What does the Insurance Compensation Consortium cover?

Since 1954 and in a subsidiary way, the Insurance Compensation Consortium is dedicated to covering damages caused by terrorism, rebellion, sedition, mutiny or popular uproar; but also, and in what interests us now, of the so-called « phenomena of nature» .

THE PHENOMENA OF NATURE COVERED BY THE INSURANCE COMPENSATION CONSORTIUM

The CCS covers extraordinary floods, but also due to earthquakes or tsunami, volcanic eruptions, as well as the action of atypical cyclonic storms (winds of intensity greater than 135 km / hour), tornadoes and fall of sidereal bodies and aeroliths (bodies unrelated to the activity human – satellites, drones, etc. – coming from space and penetrating our atmosphere).

Said protection is given by the “enormous potential for losses” generated by such events, not being necessary for the granting of the declaration of a catastrophic zone by the public powers.

Are there any requirements for the CCS to indemnify us?

Yes. In order for us to be compensated, we must have previously contracted an insurance policy related to the branch whose compensation is sought . That is, we must have home, accident, life or automobile insurance, and be up to date with the payment of the premium .

Otherwise, we could only avail ourselves of the aid that the authorities, where appropriate, may provide for the injured parties.