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.
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.
