IBC endorses Ontario’s Anti-Fraud Task Force Report

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Toronto, ON (Nov. 22, 2012) – Insurance Bureau of Canada (IBC) is pleased with the release of the Anti-Fraud Task Force Report and calls on the Ontario government to implement the recommendations contained in the report.

“We applaud the Steering Committee for its hard work on this report,” says Ralph Palumbo, Vice President, Ontario with IBC. “This marks a significant step in the fight against fraud, raising awareness and sharing best practices for fraud prevention.”

The report provides crucial recommendations in a number of areas, including:

  • Licensing health clinics that treat and assess auto insurance claimants;
  • Enhancing the powers of the industry regulator to investigate and sanction unfair or deceptive acts or practices;
  • Enabling claimants to a play a more active role in helping to detect and prevent fraud;
  • Licensing the towing industry under the regulatory oversight of an Administrative Authority;
  • Legislation to protect individuals from reprisals or retribution for providing, in good faith, information about suspected fraud;
  • Calling upon the health regulatory colleges to become more involved in understanding auto insurance fraud and ensuring that complaints of fraud involving their members are investigated and prosecuted if substantiated.
  • Ensuring early assignment and continuity of Crown counsel in large complex auto insurance prosecutions.
  • Developing a website that would explain how to make an auto insurance claim, what to expect by way of treatment and recovery after an injury, and how to avoid, detect and report improper activity.

IBC is optimistic that the recommendations from the report will be implemented in the coming weeks and months. We are committed to working with government and all stakeholders to develop and solutions to the many issues inherent in the current auto product.

A recent study conducted by KPMG estimated the cost of auto insurance fraud in Ontario could be as high as $1.6 billion annually. IBC is dedicated to helping build an environment that allows the government to introduce much-needed reforms in the fight against fraud.

IBC recently partnered with Crime Stoppers in an effort to provide consumers with another avenue to submit their tips about suspected insurance fraud and vehicle theft. People can now anonymously submit tips to 1-800-222-TIPS or on ibc.ca

Palumbo added, “We will continue to be vigilant on the fraud file and work with law enforcement, insurance companies, government and the public to investigate fraudulent activity, and to continually raise awareness of a problem that affects everyone.”

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 and for IBC on Twitter follow @insurancebureau.