LISI 2012 FINANCIAL REPORT
93
5
Risk factors
2.6.8 Interest rate risk
The Group has hedged a significant part of the interest rate risk
on its loans by swapping variable rates for fixed rates.
3
Insurance policy
The LISI Group has several insurance policies, which cover the
following risks:
3.1 Property damage insurance
As of January 1, 2013, this policy covered own and others’
installations, as well as operating losses in the event of a claim.
The deductible is stated by claim and amounts to €0.1m, and
this for a maximum coverage amount of €1,157,641,958 for the
buildings and equipment, €228,554,947 for merchandise, and
€642,330,419 for operating losses.
3.2 Third-party liability insurance
It covers personal injuries and equipment and intangible losses
which may occur during operations, as well as losses after
delivery for an amount of €15.2mper claim and per year for the
first line. The Group also has an Excess contract for which the
amount is €7.6m in addition to the first line.
A civil liability insurance policy covers the specific risks related
to medical devices for an amount after delivery of €5m per loss
and per year for the first line. The Group also has an Excess
contract for which the amount is €10m in addition to the first
line. The aforementioned insurance policies intervene for the
3
rd
and 4
th
lines, respectively.
LISI AEROSPACE signed an insurance contract covering its
liability for injury, property damage and consequential damage
and flight disruptions due to its delivered aerospace products.
The sum insured for all subsidiaries, per loss and per insurance
year is €500 million.
3.3 Corporate officers’ liability
insurance
The Group is covered by a directors’ liability insurance policy for
all its subsidiaries up to €7.7m per year.
