INFORMATION ABOUT VOLCANIC ERUPTIONS ON THE ISLAND OF LA PALMA - INSURANCE COMPENSATION CONSORTIUM
FIRST INFORMATIVE NOTE ON THE VOLCANIC ERUPTIONS ON THE ISLAND OF LA PALMA SINCE YESTERDAY 19 SEPTEMBER AND THE MANAGEMENT OF THE COMPENSATION TO BE ASSUMED BY THE INSURANCE COMPENSATION CONSORTIUM OF THE MINISTRY OF ECONOMIC AFFAIRS AND DIGITAL TRANSFORMATION
The geological phenomenon is still ongoing and has not yet concluded and therefore, the experts of the Spanish Insurance Compensation Consortium (CCS) who have travelled to the island of La Palma to carry out an initial survey of the affected areas and estimate the damage have not yet had access to these areas to carry out their task. The CCS transmits the following initial considerations for the purpose of informing and clarifying for the public in general and the insured in particular.
1.- Volcanic eruption is included, together with flooding, sea surge, earthquake or tidal wave, windstorm with gusts of more than 120 km/h and tornadoes, in the list of those legally called "extraordinary risks", whose damages are compensated by the CCS of the Ministry of Economic Affairs and Digital Transformation.
2.- Therefore, the CCS will directly assume, with its own means, the management and payment of the compensation claims it receives, after assessing the compensable damages that have occurred and continue to occur as a result of this volcanic episode.
3.- The requirement for submitting the application for compensation to the CCS is that the affected party is insured and had his insurance in force at the time when the volcanic eruption began.
4.- The CCS will compensate the damages to the insured persons, if they occur. It will also compensate the damage to the insured goods, whether they are dwellings or communities of owners; motor vehicles; office premises; commercial and service establishments and other buildings for non-industrial use; industries; and civil works and infrastructures, whether all the aforementioned goods are privately or publicly owned.
5.- The CCS will indemnify in accordance with the insured sums and the clauses of the insurance contract of the affected party.
6.- In the case of the aforementioned assets, the CCS indemnifies both the material damage caused by the eruption and lava and other materials, as well as the immaterial damage resulting from the same, such as the loss of rents of property owners, accommodation expenses derived from the uninhabitability of the dwelling, or the loss of income due to the paralysis of commercial, service or industrial establishments, all in the manner foreseen in the insurance contract of the affected party.
7. - Applications for compensation may be presented directly by the affected insured person himself or, on his behalf, by his insurer or by his insurance intermediary (agent or broker). For this, alternatively, a call to the CCS call centre (free telephone 900 222 665) is sufficient to provide the identification details of the insured person, the damaged property and the insurance policy taken out, or to fill in the same information via the internet on the CCS web page (www.consorseguros.es). At the end of the conversation or the completion of the data on the screen, the request is instantly registered in the CCS computer system and the affected person is given his reference number.
8.- The CCS will register and manage the requests for compensation that it receives from the insured parties even if the period of 7 days foreseen in the insurance legislation has elapsed since the damage occurred.