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".
Tags
C Clause