The Insurance Compensation Consortium (Spanish: Consorcio de Compensación de Seguros, CCS) is a compulsory Government catastrophic risk insurance in Spain. It is an insurance tax charged on prescribed classes of insurance issued by private insurers, providing cover against a series of extraordinary perils and "political risks”
Note: This Government scheme covers direct physical damage only. It is expected that a company ensures their commercial insurance policy covers them against any resulting Business Interruption losses if necessary.
There are regulations concerning payment of the Consorcio tax within a certain time of the inception date of the policy. The timelines are very strict – payment of the tax should be made to the Consorcio office within 7 days (of inception of the policy) for a new risk, and within 30 days for a renewal.
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insurance, compensation, consortium, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, schola. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Insurance Compensation Consortium news newspapers books scholar JSTOR April 2010 Learn how and when to remove this template message The Insurance Compensation Consortium Spanish Consorcio de Compensacion de Seguros CCS is a compulsory Government catastrophic risk insurance in Spain It is an insurance tax charged on prescribed classes of insurance issued by private insurers providing cover against a series of extraordinary perils and political risks Note This Government scheme covers direct physical damage only It is expected that a company ensures their commercial insurance policy covers them against any resulting Business Interruption losses if necessary Sources edithttp www isn inc com countryinfo spain aspxThere are regulations concerning payment of the Consorcio tax within a certain time of the inception date of the policy The timelines are very strict payment of the tax should be made to the Consorcio office within 7 days of inception of the policy for a new risk and within 30 days for a renewal nbsp This Spain related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Insurance Compensation Consortium amp oldid 1019699371, wikipedia, wiki, book, books, library,
