Nº 1September 2014
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In this issue...
  • Editorial

    Editorial

    Editorial

    The second issue of our digital magazine 'Consorseguros' aims to maintain the line marked out in terms of diversity and immediacy of content, always related to matters in some way linked to the activity of the Consorcio de Compensación de Seguros (CCS).

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  • Editorial

    Editorial

    Editorial

    From time to time an earthquake of perceptible magnitude causing damage of different kinds and severity strikes our country, calling to mind that Spain, though not one of the most earthquake prone, still has a history of experiencing seismic shocks, some of considerable intensity. The main article in this volume four of our bulletin reviews the major tremors that have hit the Iberian Peninsula.

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  • Editorial

    Editorial

    Editorial

    In this autumn 2016 issue of the Consorseguros Digital magazine, our intention is once again to examine the intersection between natural risk knowledge, its management and the management of the financial consequences of such risks from the perspective of an insurance institution.

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  • Editorial

    Editorial

    Editorial

    There is broad consensus on the premise that the global trend towards a higher incidence of damage caused by natural catastrophes observed to date has more to do with the increase in the properties exposed to the risk and their value than to an increase in the hazard level of these catastrophes. Therefore, the guiding theme in the majority of the contributions contained in this issue involves an examination of the many aspects of these concepts of exposure and vulnerability.

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  • Welcome to the new digital magazine CONSORSEGUROS

    Welcome to the new digital magazine CONSORSEGUROS

    Editorial

    This is the first issue of the digital magazine CONSORSEGUROS and its publication marks a new way for the Consorcio de Compensación de Seguros to show its presence within the wider context of Spanish and international insurance.

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  • Assessment of geological risk in the Canary Islands: the GeoMEP project

    Assessment of geological risk in the Canary Islands: the GeoMEP project

    In depth

    The Canary Island archipelago is a virtually unparalleled natural laboratory, not just for its geological origin or climate but also for the natural processes that take place as a result of the two. A third element, high population density combined with tourist appeal, makes the islands an ideal site for studying all manner of geological hazards.

      Leer más
  • Earthquakes in Spain. Recent activity in the Alborán Sea

    Earthquakes in Spain. Recent activity in the Alborán Sea

    In depth

    The Iberian Peninsula is located in a convergence zone between the African and Eurasian plates. This convergence, with movement rates of between 2 and 5 mm/year in the NW-SE to WNW-ESE directions, conditions the general seism tectonics of the zone.

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  • Planning for Loss or Complexity?  New Zealand´s Earthquake Commission - The Story So Far

    Planning for Loss or Complexity? New Zealand´s Earthquake Commission - The Story So Far

    In depth

    The New Zealand Earthquake Commission (EQC), the New Zealand public scheme to provide insurance cover against geological hazards, working in close cooperation with the private sector, had to face between 2010 and 2011 one of the biggest challenges for a catastrophe scheme: the Canterbury earthquake sequence.

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  • The system of combined agricultural insurance in Spain

    The system of combined agricultural insurance in Spain

    In depth

    Agricultural insurance has a long track record in Spain, permanently seeking solutions that provide a balance between protection for farmers and insurance technique.

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  • Climate change and insurance: a many-sided interrelationship

    Climate change and insurance: a many-sided interrelationship

    Contributions

    The effects of warming are not limited just to an increase in the mean temperature; rather, the variation in the chemical composition of the atmosphere also entails a multitude of impacts on other climate system components, namely, precipitation and the precipitation pattern, atmospheric circulation, the frequency and strength of extreme weather events, and indeed all the ecological and economic systems that are affected by or depend on these.

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  • OECD Conference on the Financial Management of Flood Risk

    OECD Conference on the Financial Management of Flood Risk

    Contributions

    In May 2016 the Conference on the financial management of flood risk was held at OECD's headquarters in Paris, with the attendance of world leading experts and actors in this field.

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  • Out-Of-Court dispute resolution mechanisms in the insurance sector

    Out-Of-Court dispute resolution mechanisms in the insurance sector

    Contributions

    Causes of dispute and types of claims in the insurance field. Methods of out-of-court dispute resolution in the insurance field. Proposed rules in the insurance field.

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  • The Norwegian natural catastrophe compensation system in the past and the future

    The Norwegian natural catastrophe compensation system in the past and the future

    Contributions

    The Norwegian natural catastrophe compensation system not only covers losses from natural catastrophes, but also supports research and studies to prevent and reduce risks in the near future, such as climate change.

      Leer más
  • An international Company's Perspective on Natural Risk Management

    An international Company's Perspective on Natural Risk Management

    Contributions

    The world of risks and their cover, from de perspective of international company, constitute a true challenge of complex management.

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  • Foreign business risk coverage for spanish companies

    Foreign business risk coverage for spanish companies

    Contributions

    The importance of the foreign sector for economies is capital, as it is a powerful driving force of growth and employment. As in the rest of the most advanced countries, the coverage by the Spanish State of the risks inherent to the operations of Spanish companies outside of Spain constitutes an essential instrument of trade policy.

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  • Impact of climate change on natural disaster insurance in France

    Impact of climate change on natural disaster insurance in France

    Contributions

    The Caisse Centrale de Réassurance [Central Reinsurance Fund (French abbreviation: CCR)] is a reinsurance company whose mandate is to design, put in practice, and manage efficient instruments that respond to the need for coverage of catastrophic risk and thereby serve its clients and the general welfare.

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  • The Lorca earthquake: Lessons for reconstruction

    The Lorca earthquake: Lessons for reconstruction

    Contributions

    Given the extent of the damage caused by the Lorca earthquake, the scale of reconstruction required greatly exceeds the mere re-erection of its buildings.

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  • OECD study of flood risk management. The Seine, Île-de-France. 2014

    OECD study of flood risk management. The Seine, Île-de-France. 2014

    Reviews

    The 1910 Paris flood not only produced serious damage but it had a profound impact on the collective consciousness at the time, bearing in mind the context of enthusiasm for great industrial progress in which it occurred.

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  • Past, present and future of flood management in the Ebro River Basin

    Past, present and future of flood management in the Ebro River Basin

    Contributions

    This article describes the time evolution of flooding events monitoring and control in the Ebro River Basin (NE Spain) and how the current Automatic Hydrological Information System and Decision-Making Assistance System allow for reservoir manoeuvres reducing flood risk significantly.

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  • The Paris climate change summit: a success for multilateralism

    The Paris climate change summit: a success for multilateralism

    Contributions

    The Paris Climate Change Conference (30 November - 12 December 2015) capped the work of five years of negotiations with the adoption of the Paris Agreement, a historic agreement in the fight against climate change.

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  • Writers and the financial world

    Writers and the financial world

    Reviews

    Both in the past and present, very few writers make or have made a living solely from literature.

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  • Forecasts of the economic impacts of climate change

    Forecasts of the economic impacts of climate change

    Reviews

    Two reports forecasting the expected repercussions of the impacts of climate change to different sectors of the economy have recently been published.

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  • Recent World Bank publications on disaster risk finance

    Recent World Bank publications on disaster risk finance

    Reviews

    Two papers are presented here from The Policy Research Working Papers series, prepared in the framework of the Disaster Risk Financing and Insurance Program (DRFIP) of the World Bank Group - Finance and Markets Global Practice Group and published in June 2016. The aim of this working group is to encourage an exchange of ideas on economic development issues.

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  • The risks we are dealing with. A global perspective

    The risks we are dealing with. A global perspective

    Reviews

    Analizing the risks we are dealing with is not an easy task in a context of increasing complexity on all levels.

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  • Best´s special report

    Best´s special report

    Reviews

    Review of a report of the rating agency A.M. Best on the different options in Europe for catastrophic risks insurance and how each of them tries to solve the various problems arising to this kind of insurance.

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  • History of Insurance in Spain.  Fundación Mapfre

    History of Insurance in Spain. Fundación Mapfre

    Reviews

    Fundación MAPFRE has just published History of Insurance in Spain. This is an important book because, as it says in the Introduction entrusted to its Chairman, Antonio Huertas, it fills a gap in this country's historical bibliography.

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  • Jurisprudence about the Consorcio de Compensación de Seguros

    Jurisprudence about the Consorcio de Compensación de Seguros

    Reviews

    Comments on judgments and reviews of case law relating to the Consorcio de Compensación de Seguros (CCS).

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  • Motor vehicle civil liability. Traffic events

    Motor vehicle civil liability. Traffic events

    Reviews

    In the first part of this book the author traces the history of civil liability for motor vehicles and the corresponding insurance from the beginning years early last century up to our time. The second part of the book considers key aspects of civil liability for motor vehicles and the corresponding insurance.

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  • The AGERS natural disasters handbook

    The AGERS natural disasters handbook

    Reviews

    The Asociación Española de Gerencia de Riesgos y Seguros (AGERS) [Spanish Association of Insurance and Risk Management] presented its Natural Disasters Handbook this past 2 December 2015.

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  • CCS Update

    CCS Update

    News

    A number of legal provisions at different stages in the parliamentary process are going to have a significant impact on the insurance sector and, in particular, on the activity of the Consorcio de Compensación de Seguros (CCS).

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  • Commentary on the judgment of the Supreme Court of 5 September 2011

    Commentary on the judgment of the Supreme Court of 5 September 2011

    Reviews

    The judgment of Chamber One of the Supreme Court dated 5 September 2011 settles the controversy that previously persisted concerning whether or not the Consorcio de Compensación de Seguros was required to post deposits on appeal pursuant to Article 449.3 of the Code of Civil Procedure [Ley de Enjuiciamiento Civil (LEC)]...

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  • Jurisprudence about the Consorcio de Compensación de Seguros

    Jurisprudence about the Consorcio de Compensación de Seguros

    Reviews

    Limitation of actions. Period of limitation for claims arising from road accidents when these take place within the territory of the Autonomous Community of Catalonia.

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  • Legal consequences derived from non-payment by the policyholder of the first premium or single premium

    Legal consequences derived from non-payment by the policyholder of the first premium or single premium

    Reviews

    The judgement which we are commenting upon analyses a case of the right of recourse exercised by the Consorcio de Compensación de Seguros (CCS) against an insurance company, on account of a payment made by the former in a situation of controversy foreseen in article 11.1 d) of the Motor Vehicle Civil Liability and Insurance Act (LRCSCVM).

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  • Participation of the CCS in the Third OECD International Meeting on Terrorism Risk Insurance

    Participation of the CCS in the Third OECD International Meeting on Terrorism Risk Insurance

    News

    The Third International Meeting on Terrorism Risk Insurance was held in Washington D.C. on 10 September 2014, at the headquarters of the U.S. Department of the Treasury, under the title: Terrorism Risk Insurance: a Global Perspective. Where Do We Go From Here?

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  • Novelties in the extraordinary risk insurance and the compulsory third-party automobile insurance

    Novelties in the extraordinary risk insurance and the compulsory third-party automobile insurance

    News

    A number of important new developments have entered into effect starting on 1 July 2016, with respect to the legislation regulating the activity of the Consorcio de Compensación de Seguros (CCS), which significantly benefit all of the insured who take out automobile insurance policies, regardless of the greater or lesser degree of the coverage they decide to contract.

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  • Editorial

    Editorial

    Editorial

    This Spring 2017 issue of "Consorseguros Digital" devotes special attention to one of the significant functions of the Consorcio de Compensación de Seguros (CCS): the protection of the insureds affected by cases of insurance company insolvency.

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  • Editorial

    Editorial

    Editorial

    This issue makes a quite extensive examination of questions associated with automobile insurance. Dr Carlos Represas signs an article on the assessment of bodily harm in road accidents, and Juan Luis de Miguel, Deputy Director of Centro Zaragoza, explains the pioneering activity of this centre on the cutting edge of the research on subjects relating to vehicles and their insurance.

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  • Register of Compulsory Insurance [Registro de Seguros Obligatorios] kept by the Consorcio de Compensación de Seguros

    Register of Compulsory Insurance [Registro de Seguros Obligatorios] kept by the Consorcio de Compensación de Seguros

    News

    The purpose of this new Register is to furnish systematic, general, up to date, information to the public regarding the types of insurance that are required in order to be able to carry on certain business activities.

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  • The system for the liquidation of insurance companies by the Consorcio de Compensación de Seguros (CCS)

    The system for the liquidation of insurance companies by the Consorcio de Compensación de Seguros (CCS)

    In depth

    This article looks at the key features of the Spanish system for winding-up of insurers, which is handled by the Consorcio de Compensación de Seguros (CCS). It describes its historical background and the reasons which led to its establishment, as well as the procedures and mechanisms it uses, and the legal context in which it operates. It also includes an assessment of the period of more than 30 years over which the system has functioned and some thoughts going forward.

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  • Policyholder protection schemes in situations of insolvency. Comparative study between states and jurisdictions. New perspectives

    Policyholder protection schemes in situations of insolvency. Comparative study between states and jurisdictions. New perspectives

    In depth

    Far from the existence of a universal solution, the countries with policyholder protection schemes in situations of insurer insolvency -and not all countries have them, not even in the European context- address this issue with a heterogeneous range of solutions.

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  • Progress in bank recovery and resolution; a new legislative and institutional framework since 2015

    Progress in bank recovery and resolution; a new legislative and institutional framework since 2015

    In depth

    The last financial crisis laid bare the need to develop a new and effective framework for institutions that not only operate within the compass of the European Union but further afield too. In this context the resolution system has improved substantially and meant the introduction of a new raft of legislation whereby the Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF) were established within the orbit of the banking union.

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  • Terrorism risk (re) insurance: Minding the Gap

    Terrorism risk (re) insurance: Minding the Gap

    Contributions

    Terrorism methods and objectives have evolved. Insuring for this risk should also adapt to such changing circumstances. Given fresh challenges, and to share experiences among the various different systems of cover and examine alternatives, the International Forum for Terrorism Risk (Re)Insurance Pools (IFTRIP) has come into being. This article describes the circumstances and process behind the creation of IFTRIP from the standpoint of the experience of Pool Re, which is the British pool for terrorism risk insurance.

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  • Projection of property damage due to hydrometeorological causes (flood and wind) and estimate of the extraordinary risk insurance scheme capacity in the context of climate change

    Projection of property damage due to hydrometeorological causes (flood and wind) and estimate of the extraordinary risk insurance scheme capacity in the context of climate change

    Contributions

    Based on the compensation paid by Consorcio de Compensación de Seguros with regard to property damage caused by hydrometeorological causes (strong wind and flood) and on the sums at risk, a projection has been made for the next 30 years using certain assumptions so as to arrive to an approximation of the capacity of the extraordinary risk insurance scheme to cater for with the expected increase in hazardousness owing to climate change.

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  • Study of hazard levels in relation to tsunamis along the Spanish coastline

    Study of hazard levels in relation to tsunamis along the Spanish coastline

    Reviews

    The Directorate-General for Civil Protection and Emergencies has released the results of a study of tsunami risk hazardousness along the Spanish coastline. This is a preliminary study aimed at developing more in-depth risk management plans and studies at  regional and local government level, yet which can provide useful information on this thusfar relatively unknown risk.

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  • Failure to pay successive premiums and its effects on the Extraordinary Risk coverage by the Consorcio de Compensación de Seguros

    Failure to pay successive premiums and its effects on the Extraordinary Risk coverage by the Consorcio de Compensación de Seguros

    Reviews

    The judgment in discussion refers to the effectiveness in relation to the Consorcio de Compensación de Seguros (CCS) of agreements between the policyholder and their insurer in cases where the premium is not paid in the one-month grace period and the insurance contract between the parties has been suspended pursuant to article 15.2 of the Insurance Contracts Act.

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  • Catalogue of earthquake damage in Spain: a tool to reduce disaster risk

    Catalogue of earthquake damage in Spain: a tool to reduce disaster risk

    News

    As a result of an agreement among several Spanish institutions, a tool has been produced known as the Catalogue of Earthquake Damage in Spain (CDTE for the Spanish), which is intended to provide a unified record for damage caused by earthquakes with a seismic strength of greater than or equal to VI (EMS-98) in Spanish territory.

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  • Day-Long meeting on seismic damage assessment and intervention, in the framework of the Special Seismic Risk Plan of the Community of Valencia

    Day-Long meeting on seismic damage assessment and intervention, in the framework of the Special Seismic Risk Plan of the Community of Valencia

    News

    A day-long course on seismic risk and earthquake damage was held in the Community of Valencia during the month of September, addressing the issue both from the point of view of prevention as well as in the context of post-earthquake intervention.

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  • Editorial

    Editorial

    Editorial

    The feature article in this third issue of our magazine is devoted to a detailed exposition of the application in Spain of the Royal Decree for the assessment and management of flood risks.

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  • Editorial

    Editorial

    Editorial

    At the end of September 2018, the CCS organised the 12th meeting of the WFCP in Madrid, and that important event constitutes the central axis around which the ninth issue of the Consorseguros Digital magazine revolves. Another important group of articles in this issue relates to automobile insurance, another of the major areas of activity of the CCS beyond catastrophic risks.

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  • Editorial

    Editorial

    Editorial

    Consorseguros Digital Magazine goes green in this 10th issue, of spring 2019, in order to approach, from multiple viewpoints, the matter of environmental liability and its insurability.

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  • Editorial

    Editorial

    Editorial

    Between the 10th and the 15th of September 2019, a closed upper-level low (a "cut-off low"), a high-level atmospheric depression cut off from the jet stream circumpolar current which, on becoming positioned over the Mediterranean Sea, warm after absorbing all of the summer heat, brought about a situation of intense rainfall over the entire southeast quadrant of the Peninsula and the Balearic Islands, which was especially torrential in the provinces of Murcia and Alicante.

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  • Editorial

    Editorial

    Editorial

    We have already been working on prevention for several years but perhaps, given that in the last few months of 2019 and those coming into this year we have had to cope with a great many losses from natural events, such as the major low-pressure areas that have caused huge floods, the need for prevention has been put into even sharper perspective.

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  • Editorial

    Editorial

    Editorial

    The Extraordinary Risk Statistics is one of the longest standing annual publications issued by the Consorcio de Compensación de Seguros (CCS). The 2020 release contains data for the period 1971-2019. This publication is a basic information source and indeed provides an X-ray of damage caused by the so-called 'extraordinary' risks in Spain.

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  • Editorial

    Editorial

    Editorial

    The reader faces the 14th issue of our digital magazine, in which new items related to the main actors dealing with the management of risks aligned with the activities and functions of Consorcio de Compensación de Seguros (CCS) are presented. These actors have important roles in both catastrophic risk and automobile insurance.

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  • Editorial

    Editorial

    Editorial

    The last September 19th 2021, Nature reminded us that we are on a living planet, in which no element, as permanent as it might seem, is static. And it also reminded us that the Canary Islands owe their very existence to a very long succession of events just like the one that started that very day along the Cumbre Vieja Ridge in the Island of La Palma, along not too many millions of years, compared to other geological processes.

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  • Editorial

    Editorial

    Editorial

    Since storm Klaus in 2009, we have entered a phase in which heavy loss events are not merely incidental. Moreover, out of the seven events which have represented the most consequential claims experiences since Klaus, six of them are among the 10 most substantial in terms of cost for extraordinary risk insurance over the past 50 years.

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  • The importance of data in disaster risk reduction

    The importance of data in disaster risk reduction

    In depth

    In the risk assessments to be used as the basis for the establishment of Risk Reduction policies, it is essential to have our data sources well controlled and to be aware of their limitations and the possibilities of manipulation.

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  • 12<sup>th</sup> meeting of the World Forum of Catastrophe Programmes in Madrid

    12th meeting of the World Forum of Catastrophe Programmes in Madrid

    In depth

    From 25 to 28 September 2018, the Consorcio de Compensación de Seguros (CCS) staged the 12th meeting of the World Forum of Catastrophe Programmes (WFCP) in Madrid. The WFCP is a group of insurance systems that present interests in common (without having legal status or being legally registered) and which connects various insurance programmes for natural catastrophes that are being run in different countries across the world.

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  • Administrative competencies and coordination in applying environmental liability legislation

    Administrative competencies and coordination in applying environmental liability legislation

    In depth

    Competency for the enforcement of environmental liability legislation generally falls to the regional governments, without detriment to the areas of competency which are entrusted to the Central Government.

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  • Analysis of flood loss data in Spain at the municipal level

    Analysis of flood loss data in Spain at the municipal level

    In depth

    This study presents a tool, a viewer, for plotting the indemnities paid out by the CCS for floods, though excluding coastal flood, by municipality, in the last 15 years, from 2006 to 2020. The information contained in this viewer is taking full advantage of the CCS' wealth of data concerning flood indemnities, and is available to all stakeholders.

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  • Analysis of the seven most significant events which the Consorcio de Compensación de Seguros covered in the 2009-2021 dataset

    Analysis of the seven most significant events which the Consorcio de Compensación de Seguros covered in the 2009-2021 dataset

    In depth

    CCS publishes statistics on extraordinary risks on an annual basis including detailed information on exposure and the loss rate arising, for both events featuring high amounts claimed and those that are less significant. Against this backdrop, this article examines the comparatively major events which the CCS covered in the past 13 years, from 2009 to 2021.

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  • Cut-off lows: Their characteristics and their effects

    Cut-off lows: Their characteristics and their effects

    In depth

    The term "DANA" (the Spanish acronym for a cut-off low) is currently used instead of the phrase "cold drop", which has thus far been the term generally applied, sometimes erroneously. the rising temperatures and water evaporation, according to the laws of physics that apply to meteorology, tend towards ensuring that rainfalls should be more intense or, what amounts to the same thing, an increase in the torrential nature of downpours.

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  • Flood Risk Management Plans

    Flood Risk Management Plans

    In depth

    Initial results of the implementation of Directive 2007/60 on the assessment and management of flood risks.

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  • Loss rate analysis for the extraordinary risks covered by the Consorcio de Compensación de Seguros, 1995-2019

    Loss rate analysis for the extraordinary risks covered by the Consorcio de Compensación de Seguros, 1995-2019

    In depth

    The Consorcio de Compensación de Seguros' compilation of Extraordinary Risk Statistics is published yearly and is one of its longest standing and most impactful publications. Its latest issue in 2020 presents statistics on the claims paid by the Consorcio over the past 49 years (time series for 1971-2019).

      Leer más
  • Medico-legal prognosis in traffic accidents. Current status and new demands (Solvency II, Act 35/2015)

    Medico-legal prognosis in traffic accidents. Current status and new demands (Solvency II, Act 35/2015)

    Contributions

    In this article our intention is to initiate our readers in a language which will become increasingly more visible and necessary in the insurance world, particularly in the scope of motor vehicle claims.

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  • Prevention, protection, preparation and repair: measures to reduce flood risk along the axis of the Ebro

    Prevention, protection, preparation and repair: measures to reduce flood risk along the axis of the Ebro

    Contributions

    On the middle stretch of the Ebro, the recurrence of the flooding phenomenon and the economic and social impact of water level rises set the river basin authority to work in its quest for innovative action to curb the adverse effect of flooding a long time ago.

      Leer más
  • The significance of vulnerability and exposure in increased flood risk on the mediterranean coast

    The significance of vulnerability and exposure in increased flood risk on the mediterranean coast

    In depth

    In the past twenty-five years there has been a significant rise in flood risk on the Mediterranean coast due to the increase in vulnerability and exposure to the hazard of heavy rains. This reflects the effects of urban expansion from 1990 to the present day, especially in the years of the so-called "property boom" which has made this part of Spain the European region with the highest volume of building activity over the period.

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  • The volcanic eruption of Cumbre Vieja in La Palma, 2021

    The volcanic eruption of Cumbre Vieja in La Palma, 2021

    In depth

    From the day the series of seismic shocks on La Palma began on 11 September 2021, the Instituto Geológico y Minero de España (IGME in Spanish) - CSIC [Spanish Geological Survey - Spanish National Research Council] put the Unidad de Respuesta Geológica de Emergencia (URGE in Spanish) [Geological Emergency Response Unit] on standby footing to continuously monitor what was happening and give advance warning of a possible eruption on the island.

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  • Centro Zaragoza: brief history of a research centre serving Spain's insurance sector

    Centro Zaragoza: brief history of a research centre serving Spain's insurance sector

    Contributions

    At the end of the last century?s 80s a small group of senior executives working for various insurers, including the Consorcio de Compensación de Seguros, decided to create a shared research centre with the intention of finding out more about motor vehicles.

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  • Improving the assessments of real costs of disasters

    Improving the assessments of real costs of disasters

    Contributions

    Although natural hazards do not necessarily have to become natural disasters, the economic losses caused by natural disasters are increasing worldwide no matter whether these are caused by geophysical, meteorological, hydrological or climatological hazards.

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  • Management of volcanic hazard in Colombia: eruption history and lessons learned

    Management of volcanic hazard in Colombia: eruption history and lessons learned

    Contributions

    Colombia's terrain is extremely varied, ranging from low valleys to high snow-capped peaks. This is due primarily to the fact that the country is located right in the middle of the Pacific Ring of Fire, known to be one of the subduction zones that harbours some of the world's most important zones of seismic and volcanic activity as a result of the interaction between the Nazca and the South American tectonic plates.

      Leer más
  • Pilot cases for adapting to flood risk

    Pilot cases for adapting to flood risk

    Contributions

    Having publicised its Guides to adapting to flood risk, the Directorate General for Water at the Ministry for the Ecological Transition and the Demographic Challenge is working on a set of pilot cases for adapting to flood risk. These seek to put the concepts in the guides into practice, pick out the general lines of action to apply to buildings according to their purpose, location and constructional attributes, and draw together good practices.

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  • Protection Gap Entities: The landscape of government and market collaborations for catastrophe insurance

    Protection Gap Entities: The landscape of government and market collaborations for catastrophe insurance

    Contributions

    Over the past two years, we have carried out an international study of Protection Gap Entities (PGEs) - those organizations and initiatives that operate between governments and markets to develop novel financial solutions that mobilize (re)insurance capital in addressing the aftermath of natural and man-made disasters.

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  • Risk management and environmental liability

    Risk management and environmental liability

    Contributions

    The definition of risk management keeps on growing and now we find ourselves faced with situations that seek to protect not only the profit and loss accounts of companies, but also other capital elements such as assets, which are the core of activities; employees, which are the key engine of the business...

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  • Statistics of the CCS' Guarantee Fund for compulsory Motor car Third-Party Liability insurance

    Statistics of the CCS' Guarantee Fund for compulsory Motor car Third-Party Liability insurance

    Contributions

    This statistical study discusses the historical trend for the economic results obtained by the Consorcio de Compensación de Seguros (CCS) in its role as a Guarantee Fund for the Compulsory Motor car Third-Party Liability Insurance (MTPL) over the past 20 years (time series for 2001-2020).

      Leer más
  • Storm Klaus

    Storm Klaus

    Contributions

    Storm Klaus resulted in more than 265,000 claims handled and more than 564.1 million euros in indemnities paid out by Consorcio de Compensación de Seguros (CCS). It is by far the most severe episode of extreme winds CCS has had to face and at the time posed a major challenge to the insurance industry as a whole.

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  • The contribution of French insurers to the creation and management of a National Observatory for Natural Hazards (ONRN)

    The contribution of French insurers to the creation and management of a National Observatory for Natural Hazards (ONRN)

    Contributions

    The National Observatory for Natural Hazards (ONRN) is an example of a public private partnership that brings together the state, insurers and the Caisse Centrale de Réassurance, which is founded on concerted governance that embraces territorial groups and partners on voluntary projects to pool data, experience and studies.

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  • The reform of the Spanish legal system for the assessment of personal injury damages in traffic accidents. Improvement by consensus and contribution by the insurance sector

    The reform of the Spanish legal system for the assessment of personal injury damages in traffic accidents. Improvement by consensus and contribution by the insurance sector

    Contributions

    Spain's third-party automobile insurance legislation has been gradually generating a set of mechanisms which are aimed at guaranteeing an adequate level of protection of the rights of traffic accident victims.                  

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  • 2019 Surcharges: effect of the decision dated 28 march 2018

    2019 Surcharges: effect of the decision dated 28 march 2018

    Contributions

    Two years after the Decision took effect, we have analysed the impact of applying the Decision, to see whether the estimated 13.3 % decrease in the surcharges on the same sums insured has actually materialised.

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  • Claims experience for Lorca, 11 May 2011

    Claims experience for Lorca, 11 May 2011

    Contributions

    On 11 May 2011 two earthquakes took place with their epicentre close to the city of Lorca (Murcia); the first at 17:05, with a magnitude of 4.5 Mw, and the second at 18:47, with a magnitude of 5.1 Mw. These earthquakes caused the death of nine persons and left 300 injured, some seriously, as well as widespread damage to the city?s buildings, which was acute in some of them.

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  • Climate change on the coast and adaptation measures

    Climate change on the coast and adaptation measures

    Contributions

    The coast is the first line of defence against the effects of climate change on the oceans and is, perhaps for that very reason, all the more vulnerable to its pernicious effects. It thus transpires that on the coast we encounter an interesting store of proof of how society can implement adaptation measures satisfactorily.

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  • Data on policies and sums insured in 2019 based on the new surcharge reporting system (SIR): prospects for future improvements in the data and scope of reporting

    Data on policies and sums insured in 2019 based on the new surcharge reporting system (SIR): prospects for future improvements in the data and scope of reporting

    Contributions

    Using this system, insurance companies supply detailed information on such transaction particulars of their policies as coverage inception and expiry dates, geographic location, sums insured and limits, surcharges, and instalment interest.

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  • Environmental risks at Repsol

    Environmental risks at Repsol

    Contributions

    Due to the inherent nature of their activities, oil companies are exposed to a whole raft of risks of the environmental kind that have to be managed effectively and properly. To do this, a preliminary effort must be made to identify these risks, which is what will enable preventive measures to be designed and implemented to avoid them from happening.

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  • Flood Re: Making affordable home insurance available to those at flood risk in the UK

    Flood Re: Making affordable home insurance available to those at flood risk in the UK

    Contributions

    Flooding is a major issue in the UK, with around one in six properties at risk of flooding from coastal, river and surface water.

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  • Natural catastrophes and insurance in Australia: is it time for a national insurance scheme for natural disasters?

    Natural catastrophes and insurance in Australia: is it time for a national insurance scheme for natural disasters?

    Contributions

    The article will examine the existing legal and regulatory framework for insurance within Australia and the specific measures taken to deal with property losses arising from natural disaster.

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  • The Catastrophe Observatory of the Aon Spain Foundation: research, prevention, assistance and continuity

    The Catastrophe Observatory of the Aon Spain Foundation: research, prevention, assistance and continuity

    Contributions

    The Aon Spain Foundation is a private non-profit foundation established in 2015. Its motto is "always with people against risk", and its primary objective is to help make a better society through its activity in the areas of social integration, art and culture, and catastrophe hazards.

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  • The IBER model and its application to flood studying

    The IBER model and its application to flood studying

    Contributions

    In the episodes of the flooding the most important variables for assessing flood risks are the velocity and level reached by the water and how long it remains there. There are several ways of assessing the risk associated with a river flooding event as a function of these parameters.

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  • The Sendai Framework for disaster risk reduction 2015-2030. Progress achieved in its implementation

    The Sendai Framework for disaster risk reduction 2015-2030. Progress achieved in its implementation

    Contributions

    The Sendai Framework is the structure for concerted international action which aims to reduce disasters in the 2015-2030 period. It was adopted at the third World Conference on Disaster Risk Reduction held over 14-18 March 2015 in the Japanese city of Sendai following a process of consultations, deliberations and inter-governmental negotiations that lasted three years.

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  • Volcanic hazard in France: the insurance response

    Volcanic hazard in France: the insurance response

    Contributions

    The extensive eruption of the Cumbre Vieja Volcano in the Canary Islands, has raised our awareness that a hazard that may seem tenuous and infrequent can have a huge impact on the insurance industry, destroy hundreds or thousands of properties, disrupt communications and distribution networks, and bring local economic activity to a halt for many months.

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  • Managing flooding in Coastal Galicia

    Managing flooding in Coastal Galicia

    Contributions

    This article analyses the line of work being carried out to reduce the negative effects caused by flooding since the coming into effect of the Floods Directive and with a focus on the Coastal Galicia Hydrographical District (DHGC for the Spanish).

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  • Mapping flood risk in Spain from Extraordinary Risk Insurance Scheme data

    Mapping flood risk in Spain from Extraordinary Risk Insurance Scheme data

    Contributions

    The purpose of this article is thus to carry out a spatial analysis of flood risk by province, both because of the size of that peril and because the CCS holds all the insured damage data.

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  • Pool Español de Riesgos Medioambientales: environmental insurance accessible for everybody

    Pool Español de Riesgos Medioambientales: environmental insurance accessible for everybody

    Contributions

    May saw the twenty-fifth anniversary of the signing of the deed of incorporation of the Pool Español de Riesgos Medioambientales (Spanish Environmental Risks Pool). Considering that now is a good time to offer a brief review about why this pool was organised, if it is meeting its commended tasks and, if these are proving useful for member companies of the Pool, for their customers and for the insurance industry in general.

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  • Rain flooding in Spanish urban zones: a damage estimation model based on adjustment experience

    Rain flooding in Spanish urban zones: a damage estimation model based on adjustment experience

    Contributions

    According to the European Environment Agency (EEA, 2019), total reported economic loss from extreme climate events in Europe for 1980-2017 amounted to approximately 435 billion euros, of which 37 billion was in Spain.

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  • Robotics, artificial intelligence and autonomous vehicles

    Robotics, artificial intelligence and autonomous vehicles

    Contributions

    In this study we are going to attempt to provide a general overview of the current status in Europe of the so-called fourth industrial revolution, in the field of robotics and artificial intelligence, with particular reference to the so-called autonomous vehicles.

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  • The Consorcio de Compensación de Seguros in the new law on the regulation, supervision and solvency of insurance and reinsurance undertakings

    The Consorcio de Compensación de Seguros in the new law on the regulation, supervision and solvency of insurance and reinsurance undertakings

    Reviews

    The incidence of the LOSSEAR on the activity of the Consorcio de Compensación de Seguros (CCS) must be analysed both from the perspective of the transposition of the new European solvency programme as well as with respect to the contents specific to the Spanish insurance sector.

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  • The most common adverse weather phenomena impacting the Iberian Peninsula

    The most common adverse weather phenomena impacting the Iberian Peninsula

    Contributions

    In recent years the media have been focusing attention on bombogenesis events, cut-off lows, heavy coastal storms with high winds and high waves, and even some tornados. These weather phenomena take place occasionally, that is to say, infrequently. Nevertheless, they can in some cases cause high human casualties and have a high economic cost.

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  • Volcanic hazard in Italy: a variegated landscape

    Volcanic hazard in Italy: a variegated landscape

    Contributions

    Italian volcanoes well represent the wide spectrum of possible states of activities and eruptive styles: from dormant volcanoes to persistent activity, from the largest volcano in Europe to small volcanic islands, Italy faces all sorts of actual and potential threats from volcanic sources. The Istituto Nazionale di Geofisica e Vulcanologia (INGV) is the main institution in charge of the monitoring and surveillance of active Italian volcanoes.

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  • Volcanic risk management in Spain

    Volcanic risk management in Spain

    Contributions

    The origin of volcanism in the Canary Islands has been the source of intense debate over the past 50 years, but the theory most widely accepted by the scientific community is that Canary Island volcanic activity is linked to the presence of a deep thermal anomaly inside the Earth (lower mantle) capable of building and continuing to build these island volcanic systems.

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  • Amendments introduced by the voluntary jurisdiction act (law 15/2015) and of interest to the insurance industry

    Amendments introduced by the voluntary jurisdiction act (law 15/2015) and of interest to the insurance industry

    Contributions

    In addition to aspects of a more general nature, the current Voluntary Jurisdiction Act (Law 15/2015 of 2 July published in the BOE, or official state gazette, on 3 July, hereafter the "LJV" for the Spanish) broaches certain questions which are of great interest as regards the day-to-day processing of case files by insurers and warrant a basic description of them in this article.

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  • Chile´s economic recovery after the  earthquake of February 2010

    Chile´s economic recovery after the earthquake of February 2010

    Reviews

    If the 2010 earthquake in Chile, the terrorist attacks of 11 September 2001 and Hurricane Katrina have anything in common apart from their catastrophic nature and the unlikelihood of occurring, it is that the search for the best way to manage their consequences is the main focus of the Wharton Center for Risk Management and Decision Processes at the University of Pennsylvania.

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