the eruption of the La Palma volcano

The CCS has already paid more than 213 million euros to those affected by the La Palma volcano

The CCS has already paid more than 213 million euros to those affected by the La Palma volcano. This amount represents 91% of the estimated total cost (€234.7 million) of the compensation requests received to date.

To date, 7,133 requests for compensation have been dealt with, with the following breakdown: 6,183 requests for compensation referring to housing, for which 182,791,891 euros have been paid; 445 for car damage, for which, as a whole, an amount of 977,656 euros has been compensated; 459 relating to shops, hotels, office premises and other public or private real estate for non-industrial use, the amount of which was indemnified amounts to 22,447,664 euros and 46 for damage to industries, for a total amount of 7,258,215 euros.

The total number of requests for compensation received by the CCS as of July 28, 2022 amounts to 9,608, that is, 1,625 more requests than those received on June 1.

On the other hand, 1,168 requests for compensation have been denied for different reasons, among which is the existence of a lack, since the legal period of seven days has not elapsed between the date of issue of the insurance contract and the date on which, according to With the verifications carried out by the CCS based on viewers and drones for which accurate information and images are available, the damage to the insured property did indeed occur. Other reasons for rejecting the request are the lack of coverage in the insurance contract for the uninhabitability of the home or the loss of rent due to its lease, or because the circumstances set out in the insurance contract to compensate the insured for these concepts.

In the case of requests for compensation filed more recently, the rejections stand out because the claimed damages are not attributable, according to the expert verification carried out by the CCS, to volcanic ash or to other facts, such as vibrations or movements of the ground, which could be associated in some locations to erupt; or because the area in which the insured risk for which uninhabitability is claimed is located has not been evicted.

No rest in summer

The CCS will continue every week in the coming months of August and September, as it has been doing since the beginning without interruption, paying compensation by bank transfer to the insured as the documentation proving ownership and full validity of the insurance of the goods at the time of the damage, and the valuation of the compensable damages is concluded, both with regard to the material damage suffered (lava and ashes that would have caused damage to the insured goods or cleaning costs) and for loss of rental or habitability of housing and loss of profits due to the destruction or interruption of business, provided that both are insured.

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July 12, 2022 - In News

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