Brazil water utility seeking D&O insurance
The board of Brazil's Minas Gerais state water utility Copasa authorized the company to launch a tender in order to contract directors and officers (D&O) insurance for its top executives and board members.
The company will spend up to 300.000 reais (US$93.750) on a 12-month insurance policy.
Copasa did not unveil details of the tender process.
With the sprawling Lava Jato anticorruption probe targeting some of Brazil's largest companies, the D&O segment has seen stronger growth in recent years.
Other state-run players are also looking to buy D&O coverage, including national development bank BNDES.
The D&O segment registered premiums of 334mn reais in January-November 2017, the most recent figure available, up 9.5% year-on-year, according to insurance industry regulator Susep.
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