EPM, Comptroller’s Office and insurance companies

Company News    Dec 9, 2021 6:17 PM

Negotiations between insurance companies, the Comptroller General’s Office, EPM and constructors to move forward with the Hidroituango project seem to be progressing well.

The director of Blu Radio’s news service, Ricardo Ospina, said that the insurance companies have offered to pay 90% of the policy, an amount that would cover the financial detriment of the fiscal process, Blu Radio reported.

This might save Hidroituango, since it will immediately stop the fiscal sanction of the Comptroller’s Office to the contractors of the project.

Last week, EPM’s Jorge Carrillo delegated three of the company’s highest officials to sit in a sort of “conclave” with the representatives of Mapfre, the project’s insurer, and the reinsurance companies, seeking to accelerate the payment of the policies.

The possible agreement must be submitted for approval to EPM’s competent internal bodies and, if finalized, the totality of the resources will be paid directly to the company.

However, Sura Seguros said that it had not participated in the meeting, La Republica reported.

“We had no participation in the meetings that this organization allegedly held, nor have we participated in any pre-agreement,” the company said.

Bottom-Line: It seems like EPM cannot make an announcement without generating controversy. This possible agreement is questioned due to Sura Seguros’ statement.

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