Business risk
Extraordinary risks
Phenomena of extraordinary intensity of nature and events of political or social significance whose cover is assumed by the Consorcio de Compensación de Seguros.
In practice
It is not contracted: it is paid in the policy surcharge and activated when the administration declares the event. The capital that the Consorcio indemnifies is the one declared in the private policy, so underinsurance also extends here.
Where it is addressed
This term is covered in Riesgos patrimoniales and applies when taking out Daños Materiales.
