• The average reduction in the amount of surcharges is 13%, which will reduce the policies of individuals and companies
  • The Insurance Compensation Consortium has sufficient reserves due to the moderation of the accident rate

The General Directorate of Insurance and Pension Funds (DGSFP), under the Ministry of Economy, Industry and Competitiveness, has approved a reduction in the amount of surcharges applied by the Insurance Compensation Consortium (CCS) to cover extraordinary risks. Specifically, through a Resolution of the DGSFP, the amount of surcharges for extraordinary risks is reduced by an average of 13% by adjusting the rates for the coverage of property damage (such as homes and communities and risks). industrial), of the rate for damages to persons and of the rate for the coverage of pecuniary losses. To calculate the percentage of reduction in each of the cases the accident rate in the 1987-2016 period has been studied as well as its severity.

Due to the catastrophic nature of the risks covered, the Consortium must constitute a stabilization reserve to cover the negative and unfavorable deviations of the accident rate. This reserve is cumulative when generated from the surplus of each fiscal year (difference between the income from surcharges and expenses from claims). The evolution of claims arising from extraordinary risks has remained, for some time now, at a moderate level, which has allowed a significant growth of the stabilization reserve until reaching a level sufficient to face these risks. The purpose of this measure is to reduce the growth rate of the stabilization reserve, allowing savings for the insured.

In turn, the DGSFP Resolution updates the content of the extraordinary risk insurance coverage clauses that must be inserted in the insurance policies.

The Insurance Compensation Consortium is the public body that is responsible, among other functions, for compensating damages caused to people and property by certain phenomena of nature, acts of terrorism and other extraordinary events. As a condition, a policy must be signed in some or some of the branches in respect of which the current legislation establishes the obligation to include in its corresponding coverage the guarantee of these risks.

You can consult the full Resolution at:


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