TORONTO, Dec. 2, 2011 – Insurance Bureau of Canada (IBC) is pleased with the interim report of Ontario’s Auto Insurance Anti-Fraud Task Force, which is aimed at fighting insurance fraud at its core.
“To have a real impact on Ontario’s efforts to eliminate insurance fraud, we need to address the underlying factors that contribute to the problem,” said Ralph Palumbo, Ontario Vice-President, IBC. “The Task Force has accurately identified those factors, as well as other issues that require further examination.”
“IBC and its member insurers will continue to work with the Task Force, MPPs and their constituents and law enforcement to help Ontarians understand how fraud affects their safety and economic well-being,” added Palumbo. “Organized insurance fraud and abuse of auto insurance benefits is a big business. And when fraudsters cheat the system, honest policyholders end up paying.”
To view a pdf with the same information is here.
Palumbo added: “Everyone – insurers, government, the public and law enforcement – has a role to play in eliminating fraud. Today’s report is an excellent start.”
In the coming months the Auto Insurance Anti-Fraud Task Force will examine:
- The licensing and/or regulation of health clinics, and other possible gaps in regulation;
- The establishment of a dedicated fraud investigation unit;
- The development of a consumer engagement and education strategy;
- The creation of a single web portal for Ontario auto insurance claimants.
In addition to the recommendations in the Task Force’s report, IBC has also advocated for the imposition of tougher criminal and civil penalties for identity fraud and theft.
Fraud costs everyone. If consumers are aware of someone who is cheating the system, TAKE THE TIME, REPORT THE CRIME. Call 1-877-IBC-TIPS (1-877-422-8477) to submit a confidential tip, or visit www.ibc.ca to learn about insurance fraud.
About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association representing Canada’s home, car and business insurers. Its member companies represent 90% of the private 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 Centre of IBC’s website at www.ibc.ca.
PDF with caption: “Infographic: Example of a Fraudulent Insurance Claim”. PDF available at: http://stream1.newswire.ca/media/2011/12/02/20111202_C3599_DOC_EN_7813.pdf