NAGICO takes steps to combat insurance fraud

June 7, 2023  -Philipsburg – Today, Wednesday, June 7th, 2023, the Honorable Minister of Justice Anna E. Richardson joined NAGICO Managing Director and Territory Head Eric Ellis, and Chief of Police Carl John in announcing NAGICO’s newly modified Motor Insurance Policy Schedule to combat the multiple insurance fraudulent acts being undertaken by individuals in the community. This first phase of NAGICO’s counter-fraud measures launches on June 12th, and will run until September 15th, allowing for their motor policyholders to exchange their current insurance documents for the new insurance policy schedule.

With the upgraded security features to the motor insurance policy schedule, NAGICO aims to create a safer environment for its customers and deter potential fraudsters from taking advantage of the system. “Tackling insurance policy fraud on Sint Maarten is of paramount importance as these positive actions help maintain the integrity and sustainability of the insurance industry, ensuring that legitimate policyholders are protected and able to receive the coverage they rightfully deserve. As such, I commend NAGICO for taking this proactive step in launching a newly modified motor insurance policy which cannot be duplicated, altered, or replicated, and I also encourage other insurance agencies to adopt counter-fraud measures,” stated Minister Richardson.

Chief John also encouraged businesses or persons who may have identified any fraudulent acts, to report this immediately to the Police, and expressed his appreciation to NAGICO for this initiative which will allow police officers to identify fraudulent insurance documents easier. As such, the public is advised to ensure that their documentation is updated when operating a vehicle to avoid being penalized.

Minister Richardson, Chief John, and Mr. Ellis have all expressed their willingness to work and support each other in this area in order to combat fraud.

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