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fraud

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Public auto insurer’s Top 5 fraud cases of 2021

January 6, 2022 by Jason Contant

A phony kidnapping and a driver who was travelling nearly three times the speed he reported to investigators were among Manitoba Public Insurance (MPI)’s Top 5 auto fraud cases of 2021. Last year, MPI’s Special Investigation Unit (SIU) closed nearly

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Here are the latest trends in insurance fraud

December 8, 2021 by Jason Contant

“Re-vinning” of stolen vehicles — where thieves steal a vehicle, put what appears to be a legitimate vehicle identification number (VIN) on the front dash and then sell it to an unsuspecting customer — is increasing as a fraud trend,

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B.C. auditor calls for better fraud risk measures at public sector organizations

November 3, 2021 Dirk Meissner - THE CANADIAN PRESS

VICTORIA – Public sector organizations in British Columbia must do more to strengthen their fraud risk assessment and management practices, says auditor general Michael Pickup. A survey of 140 public sector organizations, including ministries, Crown corporations and post-secondary institutions, found

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IBC investigative services to be transferred to Équité Association

September 28, 2021 by Greg Meckbach

The Insurance Bureau of Canada’s Investigative Services division is being transferred to a new organization, Équité Association, effective Oct. 1. That transfer has been approved by IBC’s board, IBC announced Monday. Équité Association integrates IBC’s investigative services division with the

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New industry anti-fraud group gets its first CEO

July 19, 2021 by Greg Meckbach

Terri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division.

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How IBC proposes fighting insurance fraud in the trucking sector

May 31, 2021 by Jason Contant

Provincial governments should implement a database to verify the validity of a trucking carrier’s insurance as one way of helping to identify fraud in the sector, Insurance Bureau of Canada (IBC) is recommending. At the time of policy renewals, insurers

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Cautionary tale for brokers when payment time quickens

April 12, 2021 by Adam Malik

Since insurance brokers act as intermediaries between client and insurer, the risk of them falling victim to fraud increases as payment turnaround time decreases, says a cyber insurance expert. In fact, brokers “regularly top our list of industries that are

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Brokers: pay attention to these insurance fraud ‘red flags’

April 7, 2021 by Jason Contant

If your client is trying to rush the insurance buying process or is not concerned about price, that’s often a red flag that the transaction is fraudulent, RSA told Canadian Underwriter recently. “We know the majority of customers aren’t looking

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Number of suspicious claims “at an all-time” high during COVID: RSA

April 6, 2021 by Jason Contant

Even though claims volume has significantly decreased during the COVID-19 pandemic, the number of claims flagged for possible fraud investigation remains comparable to pre-pandemic levels, RSA told Canadian Underwriter last week. “From RSA’s perspective… this indicates [claims] with concerning loss

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COVID’s impact on insurance fraud

March 25, 2021 by Jason Contant

Fraudsters are taking advantage of anxieties arising from the COVID-19 pandemic to exploit victims in the Canadian P&C insurance space in novel ways, speakers said during a fraud webinar Wednesday. For example, some body shops are charging drivers extra cleaning

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Victims lose $2M in cryptocurrency frauds, Vancouver police warn scams more frequent

March 22, 2021 The Canadian Press

VANCOUVER — Police say cryptocurrency scams cost victims in the Vancouver-area about $2 million in just one week and investigators believe the frauds are becoming more common. Vancouver police Const. Tania Visintin says she knows of at least four active

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Opinion: Personal lines cyber insurance a growing need

January 12, 2021 Jephunneh Lattiboudeaire, Cyberscout

With much focus placed on commercial cyber insurance, not enough attention has been directed to personal customers and making sure they’re protected — and know what to do — when a cyber event hits them. And insurers are the key