Consorcio has been entrusted the function of protection of creditors by insurance contract (insured persons, beneficiaries and third parties) in case the regulator orders the liquidation of an insolvent insurance company, or the own company voluntarily asks for its dissolution.
The creditors that are not policy holders, that is those that are not insured or are not beneficiaries or injured parties in accordance with the definitions of the Insurance Contract Law, will not enjoy the benefits envisaged in article 36 of Law 30/1995 and, therefore, must wait for the liquidation plan to be approved by the Creditors' meeting and will be paid the percentage of their respective privilege that results from the entity's balance.