Brazil's Vale says Samarco costs so far exceed insurance

RIO DE JANEIRO, Nov 16 (Reuters) - Costs and fines already incurred as a result of a deadly dam burst at an iron ore mine in Brazil run by Samarco have exceeded insurance against civil damages, an executive for Brazilian miner Vale SA, which owns Samarco along with Australia's BHP Billiton, said on a Monday conference call. (Reporting by Stephen Eisenhammer; Editing by Chizu Nomiyama)