The Independent Consumer and Competition Commission (ICCC) in a notice have informed relevant stakeholders and the public of the release of the ‘Final Report and Final CTP MVIL Regulatory Contract for Motor Vehicles Insurance Limited (MVIL).
The final report and contract have been updated after incorporating the submissions and comments received from all relevant stakeholders. The final report contains the ICCC’s determinations and new premiums paths that will be implemented in the new regulatory period, which will effective from 1st January 2023 to 31st December 2027.
ICCC states, “The release of this Final Regulatory Contract is in accordance with Section 35 (1) of the ICCC Act and brings to closure the CTP MVIL Regulatory Contract Review.”
Copies of the report and contract can be obtained from the ICCC’s website (www.iccc.gov.pg) or from the ICCC’s Head Office at 2nd Floor Post Office Building, Boroko.
ICCC advise that all enquiries in relation to this matter should be directed to Stella Mirisa Kora or Kenta Pora on 312 4600 or email skora@iccc.gov.pg or kpora@iccc.gov.pg respectively.