Functions of the Consorcio in Combined Agricultural Insurance

Functions of the Consorcio in Combined Agricultural Insurance

The Consorcio's functions in this field are established in article 10 of its Legal Status , and they are the following:

  • Reinsurer: During years in which an excess of losses occurs it uses a reinsurance policy to compensate the majority of this excess. The conditions of the reinsurance contract are established annually, as a development of an annual plan, in an Ministerial Order.
  • Co-insurer: participant in the coinsurance table, assuming a part of the risk from the Agricultural Insurance as any co-insurer company. Currently it has 10% of the table assigned to it.
  • Control of the expert appraisals of the losses: it checks that the expert appraisal process is carried out in accordance with the regulations.
  • To assume the cover of the personal injuries in forest fires.