Consorcio de Compensacion de Seguros

The Consorcio de Compensación de Seguros (the Insurance Compensation Consortium, or 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

http://www.isn-inc.com/countryinfo/spain.aspx

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.

gollark: Hmm, part of this is quite easy to do but I don't actually know how spheres work, worrying.

gollark: No, that's obviously much too low.

gollark: I have not bothered to calculate how close you would need to be to the poles to be roughly spared.

gollark: Really? Hm.

gollark: Probably fewer, I'd think.

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