IBC congratulates Ontario government for its commitment to crack down on fraud

TORONTO, July 29, 2011 – Insurance Bureau of Canada (IBC) congratulates the Ontario government for taking an important step in the fight against fraud. Acting on a 2011 Budget commitment, today the government announced the composition of an Auto Insurance Anti-Fraud Task Force, noting that its work is already underway.

“Insurance fraud is a serious problem that affects all Ontarians who are concerned about crime, public safety and increased auto insurance premiums,” said Ralph Palumbo, Vice-President, Ontario, IBC. “We appreciate that the government has moved quickly to form the Anti-Fraud Task Force, and look forward to continuing to work with government and other stakeholders to ensure that honest Ontarians are not victimized by fraud and abuse of the system.”

IBC worked with the government to set up the Anti-Fraud Task Force, which brings together stakeholders from the insurance industry, academia and the justice sector, as well as a consumer advocate. IBC looks forward to working with the Task Force on an ongoing basis to assist in implementing its recommendations regarding detection, investigation and enforcement.

About insurance fraud

Insurance fraud is estimated to be more than a billion dollar business in Ontario, contributing to the cost of auto insurance in the province. IBC focuses its investigative efforts on organized insurance crime rings, specifically rings involved in auto theft and/or the filing of fraudulent injury and accident benefits claims. IBC has advocated for measures to address the underlying factors that contribute to the problem of insurance fraud, including strict regulation to oversee the ownership and operation of medical clinics in Ontario, combined with tougher criminal and civil penalties pertaining to identity fraud and theft.

Take the time, report the crime. Visit www.ibc.ca or call 1-877-IBC-TIPS to submit a confidential tip or to learn more about insurance fraud.

About Insurance Bureau of Canada

Insurance Bureau of Canada is the national industry association representing Canada’s private home, car and business insurers. Its member companies represent 90% of the property and casualty (P&C) insurance market in Canada. The P&C insurance industry employs over 114,000 Canadians, pays more than $7 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $40 billion.

To view media releases and information, visit the media section of IBC’s website at www.ibc.ca.