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The coverage of the extraordinary risks to individuals and property has its current legal regulation in the recast text of the Legal Statute of the Insurance Compensation Consortium, approved by Royal Legislative Decree 7/2004, of 29 October, and amended by Law 12/2006 of 16 May, amending the recast text of the Legal Statute of the Insurance Compensation Consortium, approved by the Royal Legislative Decree 7/2004 of 29 October, and the Law 24/1988, of 28 July, of the Market of Securities, as in Law 6/2009, of 3 July, for which amend the Legal Statute of the Insurance Compensation Consortium, approved by Royal Legislative Decree 7/2004 of 29 October, to remove the functions of the Insurance Compensation Consortium in relation to the compulsory insurance of travellers and the hunter and reduce the surcharge to finance the liquidation functions of insurance institutions, and the recast text of the Law on the ordination and supervision of private insurance, approved by Royal Legislative Decree 6/2004, of 29 of October.
The regulatory development of the Legal Statute as regards the system of extraordinary risk coverage by the Insurance Compensation Consortium is contained in the Extraordinary Risk Insurance Regulation, approved by Royal Decree 300/2004 of 20 February. This rule, in addition to other considerations, introduced amendments to the previous Regulation of 1986 to adapt to the development of the market in general and the insurance cover clauses in particular. In this respect, particularly noteworthy was the extension of the concept of "atypical cyclonic storm" to cover damage caused exclusively by extraordinary winds or tornadoes, exceeding the requirement that the winds would necessarily be met with certain levels of rainfall or temperature precipitation.
Since the entry into force of the 2004 Extraordinary Risk Insurance Regulation, the Consortium has had the opportunity to gain experience in dealing with catalogued phenomena such as "atypical cyclonic storms", which have been In all cases, in the presentation of tornadoes and, especially, in the register of extraordinary winds. In view of the fact that among the natural phenomena which are included among the extraordinary risks is precisely that of "atypical cyclonic storm" the only one that requires, for its consideration as such, to overcome certain thresholds, the processing of the cases presented has to be preceded by the appropriate analysis of the measurements and indications that could be obtained, always with the collaboration of the State Agency of Meteorology and other Meteorological services of a regional level. This has created difficulties in not a few cases, which have been overcome in most of them, given the local character with which the phenomenon had been presented, with the study of its characteristics and effects on the ground, not without generating certain delays in the resolution of the higher than usual claims for the same number of claims for other types of phenomena.
With the accumulated experience in the handling of the various "atypical cyclonic storm" events that have been presented since the adoption of the 2004 Extraordinary Risk Insurance Regulation, and especially with the In the light of the storm "Klaus", it has become apparent that it is appropriate to take a further step in the definition of the phenomenon from the point of view of its insurance treatment, specifically contemplating the criteria of geographical delimitation that allow the process to be achieved as much as possible and, therefore, speed up processing and avoid possible discrepancies, while also adding a greater degree of legal certainty in the determination of the phenomena whose coverage corresponds to the Insurance Compensation Consortium.
In another order of things, Law 3/2010 of 10 March, approving urgent measures to alleviate the damage caused by forest fires and other natural disasters occurring in several Autonomous Communities, amended, in its final provision, the third paragraph of Article 3 (1) of Law 87/1978 of 28 December 1978 on combined agricultural insurance, to incorporate a new paragraph containing the provision that the combined agricultural insurance may In addition to agricultural production, the damage caused by the phenomena provided for in the law on installations and production elements established on the land affected by the disaster and which would be necessary for the development of the insured production.
Both the aforementioned law and its implementing regulation, approved by Royal Decree 2329/1979 of 14 September 1979, regulate a system of insurance, that of combined agricultural insurance, which provides for the risks of of potentially catastrophic nature which largely coincide (in particular the two main ones, flooding and wind phenomena) with which they are covered within the extraordinary risk insurance managed by the Consortium of Insurance Compensation. This is why, apart from the already existing exclusion from the scope of the regulation of these risks of production which can be secured in that system, it is now necessary, in view of the amendment to be made to the rules of the agricultural insurance combined by Law 3/2010 of 10 March 2010, to adapt the rules for the insurance against extraordinary risks, so that, in any event, agricultural insurance policies are excluded combined, even where the object of the insurance is, in conjunction with the production, the productive elements.
In its virtue, on the proposal of the Vice-President of the Government of Economic Affairs and Minister of Economy and Finance, in agreement with the Council of State and after deliberation of the Council of Ministers at its meeting on October 14 of 2011,
DISPONGO:
Single Article. Modification of the Extraordinary Risk Insurance Regulation, approved by Royal Decree 300/2004, of February 20.
One. Article 2 (4) of the Extraordinary Risk Insurance Regulation, adopted by Royal Decree 300/2004 of 20 February, is amended to read as follows:
" 4. Extraordinary winds, defined as those with gusts exceeding 120 km per hour. The highest wind speed value, sustained over a three-second interval, shall be understood as a streak.
For the purposes of the geographical delimitation of the affected meteorological phenomenon, the Insurance Compensation Consortium shall provide the State Agency of Meteorology with any measurements other than the same received or may, for the purposes of its assessment by the Agency, request their collaboration in the geographical delimitation by extrapolation, with the most advanced scientific criteria, of the existing measurements, so as to ensure the greatest possible possible homogeneity in the definition of the area and avoid exclusion of isolated points in respect of which there is reasonable doubt, even if they may lack specific measurements, taking into account those recorded in the neighbouring municipalities and, where appropriate, the adjacent municipalities. "
Two. Article 4 (1) (a) of the Extraordinary Risk Insurance Regulation, approved by Royal Decree 300/2004 of 20 February, is amended as follows:
" (a) In insurance against damages: land vehicle policies, railway vehicles, fires and events of nature, other damage to property (theft, breakage of crystals, damage to machinery, electronic equipment and (a) authorising officers and financial losses, provided that, in the latter case, they cover the coverage referred to in Article 2 (2), as well as combined arrangements for them or where they are contracted in a complementary manner. However, in any event, the combined agricultural insurance policies, whatever the object of the insurance, are excluded, as well as any other policies covering agricultural production which may be insured through the system of agricultural insurance combined to be covered by the plans approved by the government on an annual basis, irrespective of the boundaries of the hedges provided for in that system, as well as the policies covering the risks arising therefrom. of the carriage of goods, and of the construction and assembly, including the policies signed in compliance with Law 38/1999, of 5 November, on the Management of Building Management.
Policies covering agricultural production not included in an annual plan of agricultural insurance combined, are in force at the time of the inclusion of such products in a new plan, shall be deemed to be excluded. the obligation to pay the surcharge in favour of the Insurance Compensation Consortium and, consequently, the coverage granted by the Insurance Compensation Consortium, by application of the preceding paragraph, from its maturity or renewal, and at the latest within one year from the approval by the Government of the annual plan in which the production is to be included. '
Single Repeal Disposition. Regulatory Repeal.
All provisions of equal or lower rank are repealed to be opposed to what was established in this royal decree.
Single end disposition. Entry into effect.
This royal decree will enter into force on the day following its publication in the "Official State Gazette".
Given in Madrid, on October 14, 2011.
JOHN CARLOS R.
The Vice President of the Government of Economic Affairs and Minister of Economy and Finance,
ELENA SALGADO MENDEZ
