Minggu, 29 Desember 2013

CONSORCIO EXCLUSION



This policy does not insure against losses in Spain or Spanish Territories which fall under the regulation of the “Consorcio de Compensacion de Seguros “(Consor­cio), perils insured against by the "Consorcio" when the occurrence of loss by such covered peril shall be declared by the "Consorcio" to be within the conditions of coverage (Conditions of payment or delays in Payment by the "Consorcio", shall not abrogate this exclusion). 
           
However, when the payment of such declared covered loss is made in reduced proportion due to the  exhaustion of the "Consorcio" reserves resulting from payment of said loss, this policy shall apply in excess of the actual payment of loss made by the "Consorcio".


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