Ninth Information Notice on the Activity of the Consorcio de Compensación de Seguros (CCS) Following the Volcanic Eruption on the Island of La Palma

As of 22 November, the CCS has paid out €42,487,217 to policyholders affected by the volcanic eruption on the island of La Palma.

This amount, in turn, corresponds to 185 homes, 20 vehicles, 8 shops and office premises and 1 industrial facility. All of these risks are located in the municipalities of Los Llanos de Aridane, El Paso and Tazacorte.

1. As of the same date, the CCS has received 2,209 compensation claims, for damage to 1,808 homes, 187 motor vehicles, 199 shops, hotels and office premises, and 15 industrial facilities. By locality, the most notable are Los Llanos de Aridane, with 1,415 claims; El Paso, with a total of 396 claims; Tazacorte, with 102 claims; Santa Cruz de La Palma, with 81 claims; Breña Alta, with 74; Breña Baja, with 50; and Villa de Mazo, with 22.

1. The CCS will continue, as it has done so far and without interruption, to pay compensation to policyholders by bank transfer as the corresponding loss-adjustment reports are completed and the cover contained in the affected parties' insurance contracts is assessed, both in respect of material damage suffered and of loss of rental income or loss of use of homes, and of loss of profits due to the destruction or interruption of

1. Notwithstanding the 214 compensation claims paid as indicated in point 1, 51 compensation claims could not be admitted for processing and payment, after reviewing the corresponding documentation, for various reasons, most notably the existence of a waiting period because the legal seven-day period between the date the contract was issued and the date on which, according to the CCS's checks, the damage to the insured property actually occurred had not elapsed; the lack of cover in the insurance contract for the item claimed by the policyholder; the policyholder's own withdrawal of the compensation claim submitted; or duplicate submission of the

1. 54% of the 2,209 compensation claims were submitted via the CCS website (consorseguros.es), and the remaining 46% by calling the CCS telephone helpline (freephone 900 222 665). Insurers, acting on behalf of affected policyholders, requested compensation in 45% of cases; insurance intermediaries (agents or brokers) did so in 32% of cases; and the policyholder made the request directly in the remaining 23% of cases.

Madrid, 22 November 2021

2