Liberty accident insurance ( Castellano )
26. Indemnity clause ( Contents )
FOR LOSSES DERIVED FROM EXTRAORDINARY EVENTS COVERED BY THE INSURANCE COMPENSATION CONSORTIUM.
PERSONAL INJURIES CLAUSE
Pursuant to the terms of the revised text of the Legal Statute of the Insurance Compensation Consortium, approved by Legislative Royal Decree 7/2004 of 29 October and amended by Act 12/2006 of 16 May, the policyholder of any type of insurance contract which includes an obligatory surcharge in favour of the aforementioned public body may arrange for the cover of extraordinary risks with any insurance company that meets the conditions required under current legislation.
Indemnities derived from claims resulting from extraordinary events which occur in Spain and that may affect the risks located therein, and also those occurring abroad when the insured have their primary residence in Spain, will be paid by the Insurance Compensation Consortium when the policyholder has satisfied the corresponding surcharges in favour thereof and wheneve any of the following situations occur:
a. The extraordinary risk covered by the Insurance Compensation Consortium is not covered by the insurance policy taken out with the insurer.
b. Even if it is covered under said insurance policy, the insurer cannot fulfil its obligations because it has been judicially declared bankrupt or is subject to compulsory winding-up proceedings or such winding-up has been undertaken by the Insurance Compensation Consortium.
The Insurance Compensation Consortium shall comply with the provisions set forth in said Legal Statute, from Law 50/1980 of 8 October on Insurance Contracts, in the Regulations on Extraordinary Risk Insurance, approved by Royal Decree 300/2004 of 20 February and in all complementary provisions.
I. SUMMARY OF LEGAL REGULATIONS
1. Covered extraordinary events
Procedure to follow in the event of a claim covered by the Insurance Compensation Consortium