In addition to these functions of Consorcio de Compensación de Seguros, the entity also assumes other activities within the area of the Multi-peril Agricultural Insurance, forest fire extinguishing accident insurance, nuclear insurance and others.
Within the context of competition protection of Spanish industry, since 2020 the Consorcio de Compensación de Seguros has been the manager and administrator of the Spanish Reserve Fund for Guarantees of Electro-intensive Organisations (FERGEI in its Spanish initials), as entrusted to it by the Royal Decree-Law 24/2020, of the 26th of June, on social steps for employment recovery and protection of self-employed work and competitiveness in the industrial sector, for which the aforementioned fund was created.
According to this regulation, the FERGEI is attached to the Ministry of Economy, Trade and Enterprises by way of the General Secretary for Industry and Small and Medium-sized Enterprises.
Through FERGEI, the State assumes the results of the insolvency risk cover within the framework of long term energy sale operations, amongst the different electrical energy providers on the generation market, particularly those using renewable energy source, along with the consumer companies that are electro-intensive, defined as those in which energy costs make up a high percentage of the manufacturing expenses.
The function of the cover manager or insurer on behalf of the State is carried out by the Compañía Española de Seguro de Crédito a la Exportación, SA (CESCE).
