Business News

MVIL Cracks Down On Fraudulent Claims

by Mickey Kavera – EM TV, Port Moresby
Motor vehicle operators found to be lodging fraudulent claims with the Motor Vehicle Insurance Limited will be prosecuted.
Chief executive officer of MVIL, Joe Wemin, warned operators that MVIL will not tolerate this anymore.
He says fraudulent claims are a liability that affects business. The Motor Vehicle Insurance Limited’s current liability from fraudulent claims is K34 million.
Mr Wemin fears this figure may increase.
Wemin outlined the liability costs facing MVIL.
He says it has become systematic with motor vehicle operators collaborating with high profile individuals to defraud MVIL through false claims.
The Highlands region, though having the lowest number of vehicles, has the highest number of claims.
This won’t be tolerated anymore as tough measures will be introduced to crackdown on fraudsters.
The signing of the agreement today with the Simbu Provincial Government will see a Claims and Investigation Office set for the Highlands region.
It is required under the Independent Consumer and Competition Commission to have claims offices set up in all centres.
Executive manager of ICCC’s Regulated Industries Division, Jack Timi, hopes the establishment of the office will minimise this problematic issue of false claims.

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