The 'Consorcio de Compensación de Riesgos de Motín' was created provisionally in 1941, as a backup instrument for the Spanish insurance market to respond to the losses caused by the Civil War (1936-1939).

It was also occasionally used to attend to other important disasters: the fire in Santander in February, 1941; the fire in Canfranc, in April, 1944; the fire in El Ferrol, in May, 1944; the explosion in the mines of La Marina in Cadiz, in August, 1947; the explosion in the ammunitions store in Alcalá de Henares, in September, 1948. From 1954 onwards, it became a permanent initiative, with projects for the future, turning into what is today the Consorcio de Compensación de Seguros (CCS).

From this date onwards, the Consorcio appears closely linked to the cover of extraordinary risks, as the central figure in a compensation system for disaster damages that is unique all over the world. But throughout its history, it has taken on other duties, such as those related to export credit insurance, combined agricultural insurance, compulsory civil liability motor vehicle insurance, compulsory travel insurance, compulsory hunting insurance and civil liability insurance for nuclear risks, in a range of alternative activities and with a guarantee fund.

In addition to this, since the beginning of 1998, its activity has also extended to the field of environmental risks, entering to form part of the Spanish Pool of Environmental Risks. Finally and by provision of the Law 44/2002, of the 22nd of November, the Consorcio took on the liquidation functions of the insurance companies that the CLEA (Insurance Company Liquidation Committee) had been performing.