Sixth information note on the activity of the CCS regarding the volcanic eruption on the island of La Palma

As of 7 October, the CCS (Consorcio de Compensación de Seguros, Spain's Insurance Compensation Consortium) has paid 3,716,198 Euros to insured parties affected by the volcanic eruption on the island of La Palma. The payments, made by bank transfer to the policyholders, correspond to seventeen homes and two commercial premises that have been destroyed by the lava.

SIXTH INFORMATION NOTE ON THE ACTIVITY OF THE CCS REGARDING THE VOLCANIC ERUPTION ON THE ISLAND OF LA PALMA

1. As of 7 October, the CCS has paid €3,716,198 to insured parties affected by the volcanic eruption on the island of La Palma. The payments, made by bank transfer to the policyholders, correspond to seventeen homes and two commercial premises that have been destroyed by the lava.

1. So far, the CCS has received 556 compensation claims, corresponding to 423 homes, 96 motor vehicles, 34 shops and 3

By area of origin, 363 compensation claims come from Los Llanos de Aridane; 131 claims from El Paso; 39 from Tazacorte; 10 from Breña Alta; 5 from Santa Cruz de La Palma; 4 from Fuencaliente de La Palma, and another 4 from Villa de Mazo.

1. All claims have been immediately passed on to the team of loss adjusters appointed to assess the compensable damage as they are received, and the loss adjusters, in turn, are contacting policyholders within no more than 48 hours of the date their claim was filed.

1. The CCS will continue, as before and without interruption, paying compensation to policyholders by bank transfer as the relevant expert damage assessment reports are completed and the cover for material damage and loss of rental income, uninhabitability and business interruption contained in the insurance contracts of the

1. 69% of compensation claims have been filed through the CCS website (consorseguros.es), 30% by calling the CCS helpline (freephone number 900 222 665) and only a residual 1% have reached the CCS on paper.

Insurers have requested compensation on behalf of affected policyholders in 54% of cases; insurance intermediaries (agents or brokers) in 33% of cases; and the policyholder has done so directly in the remaining 13% of cases.

6. Finally, the CCS reminds those affected by the volcanic eruption of the following:

• The CCS compensates damage caused to property and people that is
• Therefore, only where the damage is insured can those affected request compensation from the CCS on the freephone number or website mentioned above.
• In the very likely event that affected policyholders cannot access their policies and other documentation needed to request compensation and enable the CCS to assess the compensable damage, the CCS recommends that the claim be made through the insurer or the insurance intermediary, who will reliably hold the full details of their cover in their
• The CCS will process all compensation claims it receives, regardless of whether policyholders submit them late. There is no maximum deadline, in short, for submitting a claim.
• The CCS quantifies compensation based on the clauses and sums insured set out in the insurance contract and the special rules established by the Extraordinary Risks Insurance Regulation (Royal Decree 300/2004).
• This public body will pay the compensation due in accordance with the above paragraph, whatever the amount to which all the compensable damage arising from the volcanic eruption may amount. In the case of motor vehicles, homes and homeowners' associations, the CCS will pay the amount corresponding to the full compensable damage under the affected party's insurance contract. In the case of shops, industrial premises and civil works, the CCS deducts an excess set by law at 7% of the compensable damage, which is borne by the policyholder; this means that the CCS will pay €93 for every €100 of compensable damage in shops, industrial premises and civil works, whatever the total amount of the damage.

• Compensation will also be paid immediately once the documentation for the claim

Madrid, 8 October 2021