COVID-related fraud schemes that IBC has observed
June 2, 2020 by Greg MeckbachFour vehicles were reported stolen to separate insurers, from the same driveway, on the same night in Brampton, Ont. This is just one example of alleged fraud identified shortly after the onset of the COVID-19 pandemic, the Insurance Bureau of…
Pandemic insurance fraud: What to watch for…
May 25, 2020 by Greg MeckbachInflated auto towing and storage claims and arson are among the risks the industry faces from the economic downturn and social distancing arising from the pandemic, a fraud and data analytics expert warns. “A legitimate accident may happen and [a…
Why phone evidence fell short in this triple-collision fraud lawsuit
January 7, 2020 by Greg MeckbachAn insurer suspicious about a vehicle accident obtains evidence that the occupants of the different vehicles were talking by phone to one another. But without knowing exactly who was talking and what the vehicle occupants were talking about, this type…
Why artificial intelligence should be able to detect auto fraud
October 7, 2019 by Greg MeckbachArtificial intelligence can make it nearly impossible for fraudsters to make a false claim appear real, the founder of an A.I. vendor suggests. If an auto insurance claim is fraudulent, A.I. software could pick up on that as long as…
How good are estimates of industry-wide insurance fraud?
September 20, 2019 by Greg MeckbachInsurers really don’t know how much money fraud is costing them. “In Ontario, we have to rely on other jurisdictions to try and quantify it because we are so lousy at it,” said Gordon Rasbach, former vice president of property…
How to make a good first step in the fight against auto fraud an even better one
September 12, 2019 by Greg MeckbachThe launch of Canadian National Insurance Crime Services [CANATICS] was a good move in the fight against auto claims fraud, but Canada is still at a disadvantage to other countries, a former police detective and senior Aviva claims executive said…
What insurers requested of police chiefs
June 24, 2019 by Adam MalikInsurers are calling on greater collaboration with law enforcement to help fight auto insurance fraud. The cost of auto insurance fraud is overwhelming, and no one industry can tackle it alone, Don Forgeron, president and CEO of the Insurance Bureau…
How this type of client is reducing fraud risk
May 17, 2019 by Greg MeckbachBiometrics and two-factor authentication will become more popular tactics for mitigating cyber crime risk, a British Columbia credit union executive predicts. “I feel like I do a lot of biometrics,” said Marilyn Mauritz, chief transformation and governance officer at Vancouver-based…
Why liability and reputational risk is changing
May 15, 2019 by Greg MeckbachTechnology is making it easier for consumers and businesses to move money, but it can also create new liability risks, fraud experts warned Tuesday. “Financial institutions really have to think about their position on liability,” said Jas Anand, senior manager…
Insurer pushing for new auto fraud laws
December 5, 2018 by Greg MeckbachA major insurer is calling for new laws prohibiting various forms of auto insurance fraud in Ontario. “As an industry we need a new set of provincial offences that will allow for the efficient and effective prosecution of fraud,” said…
How often are people scamming insurers with cheque fraud?
November 14, 2018 by Jason ContantInsurance fraud is again in the news, after a Moncton, N.B. man was sentenced to 30 days in prison and 18 months probation for illegally intercepting two insurance cheques sent to an Aviva Canada insured. Just how prevalent is cheque…
How cell phone records proved this insurer’s auto fraud case
September 26, 2018 by David GambrillCell phone records proved to be the deciding factor in an insurance fraud case in which a B.C. driver falsely claimed that his truck had been stolen. Parker Winterbottom, 22 at the time, reported to police in October 2011 that…