Post by account_disabled on Feb 25, 2024 0:34:08 GMT -5
It is still early for the Consortium to rule on the matter, although everything seems to indicate that in a good part of the Peninsula the circumstances required by the Extraordinary Risk Regulation have occurred to conclude that we are facing cases of extraordinary flooding and/or storm. atypical cyclone, in which case the damage caused by these phenomena will be covered by the CCS, provided that the injured party has taken out an insurance policy with a mandatory surcharge in favor of the CCS, as required by article 4 of the Extraordinary Risks Regulation," he clarifies.
This lawyer explains that “in addition, the CCS Fax Lists coverage has the same extension as that of the private insurer with which the policyholder has taken out the policy that covers ordinary risks, covering the same assets or people and with the same insured sums, although a waiting period is established, so that damages resulting from incidents that occur within seven days of contracting the policy will not be covered , with certain exceptions (for example, in personal insurance this will not apply). grace period)”.
Luis Alfonso Manzano, partner responsible for insurance and reinsurance at Bird & Bird in Spain. (Photo: Bird & Bird)
Manzano recalls that "however, the insured does not have the obligation to carry out a prior analysis of whether or not we are facing an extraordinary risk to determine whether they should file a claim with the CCS or with their insurer," he comments.
“ The main insurers nationwide have activated specific protocols to address claims arising from DANA, including the intervention of expert and assistance teams, so the simplest thing for any insured is to notify the incident to their mediator or directly to the insurer as soon as possible (within a period of seven days, unless the Policy establishes a longer period, as established in article 16 of the Insurance Contract Law)”, comments.
This lawyer explains that “in addition, the CCS Fax Lists coverage has the same extension as that of the private insurer with which the policyholder has taken out the policy that covers ordinary risks, covering the same assets or people and with the same insured sums, although a waiting period is established, so that damages resulting from incidents that occur within seven days of contracting the policy will not be covered , with certain exceptions (for example, in personal insurance this will not apply). grace period)”.
Luis Alfonso Manzano, partner responsible for insurance and reinsurance at Bird & Bird in Spain. (Photo: Bird & Bird)
Manzano recalls that "however, the insured does not have the obligation to carry out a prior analysis of whether or not we are facing an extraordinary risk to determine whether they should file a claim with the CCS or with their insurer," he comments.
“ The main insurers nationwide have activated specific protocols to address claims arising from DANA, including the intervention of expert and assistance teams, so the simplest thing for any insured is to notify the incident to their mediator or directly to the insurer as soon as possible (within a period of seven days, unless the Policy establishes a longer period, as established in article 16 of the Insurance Contract Law)”, comments.