NOTE 27 — INSURANCE
The subsidiaries have insurance coverage determined by management with the assistance of specialists’ advice, taking into consideration the nature and the level of risk, in amounts that cover significant losses on their assets and/or liabilities. The main types of insurance are as follows:
|
Type |
|
Scope |
|
2017 |
|
2016 |
|
|
Equity |
|
Inventories and property, plant and equipment items are insured against fire, electrical damage, explosion, machine breakage and overflow (leakage of material in fusion state). |
|
57,062,113 |
|
60,924,807 |
|
|
Business Interruption |
|
Net income plus fixed expenses |
|
6,464,512 |
|
8,354,147 |
|
|
Civil Liability |
|
Industrial operations |
|
535,896 |
|
527,974 |
|