MVIL hosts business exhibition

The National Business
Motor Vehicles Insurance Ltd chief executive Michael Makap speaking during the MVIL PNG industrial and mining resources exhibition and conference in Port Moresby yesterday. – Nationalpics by NICKY BERNARD

By PETER ESILA
Motor Vehicles Insurance Ltd (MVIL) continues to engage with the industry regarding changes in legislations, chief executive officer Michael Makap says.
Makap said, during the MVIL PNG industrial and mining resources exhibition and conference in Port Moresby yesterday, that the event was a great platform for businesses to network.

Carpenter Agricultural and Manufacturing Limited’s Herman Dickson (left) with Norman Sumi during the MVIL PNG industrial and mining resources exhibition and conference in Port Moresby yesterday.

“I am glad to see a lot of businesses set up booths and I know that we have achieved the objective of networking, bringing you all together with what you do all over the country,” he said.
He told the conference that the Motor Vehicle (Third Party Insurance) Act (Chapter 295) was amended to include compulsory third party insurance for equipment and machinery operating in the resource sectors.
“The amendments are a broader definition of what constitutes a motor vehicle which includes vehicles, mobile plant and equipment in the mining, petroleum, agri-business and logging sectors,” he said.

Wintop Tech sales executive Marilyn Solien (left), marketing executive Rachel Andrew and Priscilla Isafe during the MVIL PNG industrial and mining resources exhibition and conference in Port Moresby yesterday.

“Extension of compulsory third party insurance to cover motor vehicles being operated on both public and private roads and no claim against uninsured motor vehicles.”
Makap said the Motor Vehicles (Third Party Insurance) (Basic Protection Compensation) Act (Chapter 296) was also amended to provide a standard payment to beneficiaries of deceased persons as temporary relief for loss of life.
“A standard payment of K10,000 for deceased, irrespective of gender and age, the amendments came into effect on Sept 22, 2021,” he said.