Nico General Insurance Company chief executive officer Donbell Mandala has said the company will refund money that Admarc paid for insurance of non-runner vehicles.
He has since asked the Joint Parliamentary Committee looking into the Admarc insurance fraud to give directions on how the money should be refunded.
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An audit established that K18 880 667 was paid by the State commodity trader for insurance of non-runner vehicles.
Mandala also says his company will tighten systems to ensure that property being insured by government institutions is properly checked.
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