Keyword
fraud
Don’t investigate fraud suspicions indefinitely, court tells insurer
May 6, 2022 by David GambrillIf an insurer suspects fraud in a house fire contents claim, it might be better to deny the claim within 60 days, alleging fraud, rather than to prolong the claims investigation indefinitely while asking for documentation from the insured that…
How Ontario plans to reform auto insurance
April 29, 2022 by David GambrillOntario’s 2022 budget has a short paragraph dedicated to “reducing the cost of auto insurance,” including creating more choice for consumers, cracking down on auto insurance fraud and “enhancing fairness,” which would include new guidance on territorial rating. Exactly how…
Fraud risk management at B.C.’s $16 billion Site C dam project can improve: auditor
April 27, 2022 by Jason ContantVICTORIA – British Columbia’s auditor general says Crown-owned BC Hydro can improve its management of potential fraud risks at the $16 billion Site C dam project. Michael Pickup says an audit found the Crown corporation has some elements of fraud…
Top 5 wild and wacky insurance fraud claims
March 22, 2022 by Jason ContantSaskatchewan Government Insurance (SGI) saved approximately $6 million in 2021 from “hundreds of people” attempting to make fraudulent claims, the public insurer reported last week. “SGI’s Special Investigations Unit (SIU) investigates wild and wacky insurance claims, many of which turn…
B.C.’s auditor general says more work needed to assess risk of fraud in public sector
March 17, 2022 The Canadian PressVICTORIA – British Columbia’s auditor general says the government’s framework to manage fraud in the public service is well underway, but it’s not fully developed. Michael Pickup says in a news release that fraud risk management in the province is…
Capco Canada names new insurance practice lead
February 2, 2022 Canadian Underwriter StaffGlobal technology and management consultancy Capco named Ben Kosic as a partner in its Canadian insurance practice. Kosic previously spent eight years as president and CEO of Canadian National Insurance Crime Services (CANATICS), an anti-fraud consortium representing eight of Canada’s…
Public auto insurer’s Top 5 fraud cases of 2021
January 6, 2022 by Jason ContantA 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…
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,…
B.C. auditor calls for better fraud risk measures at public sector organizations
November 3, 2021 Dirk Meissner - THE CANADIAN PRESSVICTORIA – 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…
IBC investigative services to be transferred to Équité Association
September 28, 2021 by Greg MeckbachThe 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…
New industry anti-fraud group gets its first CEO
July 19, 2021 by Greg MeckbachTerri 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.…
How IBC proposes fighting insurance fraud in the trucking sector
May 31, 2021 by Jason ContantProvincial 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…