EPM strengthens the Hidroituango insurance scheme
This EPM release was published using machine translation.
Medellin, Friday March 24, 2023 (@epmestamosahi) | Hidroituango today have a robust insurance scheme. After important work that included several areas of the Company, EPM managed to finalize this Friday, March 24, the contracting of the All Risk Material Damage and Loss of Profit insurance coverage for Hidroituango with the Colombian insurer La Previsora Seguros, for an annual term.
Jorge Andrés Carrillo Cardoso, general manager of EPM, highlighted the confidence of the insurance market in the Organization and Hidroituango, which is advancing firmly in its purpose of contributing to the development of the country and the well-being of Colombians. "With this policy, contracted with La Previsora Seguros, the finished civil works of the Power Plant are insured, such as the dam, the spillway, the substation, the camps and the generation units 1 and 2, already in operation", indicated the Manager Carrillo Cardoso.
For his part, Andrés Felipe Uribe Mesa, Vice President of Risks at EPM, indicated that after a contracting process that included, among other activities, a visit to the reinsurance market to present first-hand the progress made in the commissioning of the Central Hidroituango, "insurance coverage was increased from an insured limit of 200 million dollars to one of 250 million dollars."
It is expected that once the power generation units 3 and 4 of the Hidroituango Power Plant come into commercial operation, scheduled for the second half of 2023, both the electromechanical equipment and the civil works necessary for their operation can be included in this insurance.
Meanwhile, last Thursday, March 23, EPM renewed with Seguros Generales Suramericana, the Extracontractual Civil Liability insurance coverage for the Power Plant, achieving an increase in the insured limit, which goes from 5 to 10 million dollars, also for a term annual.
EPM continues with its commitment to manage the coverage of the risks associated with the Hidroituango Power Plant, a key infrastructure work for the development of the country and the quality of life of millions of Colombians, with the insurance and reinsurance markets.
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