Insurance Fraud: The Leading Cause of High Insurance Premiums for Canadians Jul 2nd

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CitiBank Cuts Travel Insurance On Credit Cards Jul 6th

Canadians with Citibank cards may enjoy the benefits that come with it, including travel and insurance perks. But as of September 22, 2019, Citibank has announced it is slashing those benefits – particularly the ones associated with travel. The benefits that will no longer be honored are worldwid.... More »

Creating a will is the “adulting” milestone you need to hit this year Jul 18th

When it comes to self-improvement, most of us have a hard time with follow-through—and whether you stuck to your Keto diet or not, there are likely items on your financial to-do list that just never get crossed off. One of the easy actions to delay is creating a will. After all, no one wants to th.... More »
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Do You Need to Insure a Car, Motorcycle, or RV That’s Sitting in Storage? Jul 14th

Everyone thinks about car insurance in terms of road liability. There are hefty fines for driving without insurance, and you should always have coverage in case of a collision. But what about those seasonal vehicles or classic cars you don’t drive? As it turns out, there’s good reason t.... More »
Insurance Fraud: The Leading Cause of High Insurance Premiums for Canadians
An ever-present, growing problem in the Canadian insurance industry is fraud. What some view as a “victimless crime” can affect thousands of insured Canadians.
Insurance fraud can be well planned with a network of perpetrators working in tandem, or committed by a single person in a moment of duplicity. The constant across all fraudulent claims is their result: they drive up premiums for all insurers.
Auto insurance fraud can take many forms and be carried out by any number of people in an auto claim process.
Don Forgeron, President and CEO of IBC, at the Ontario Association of Chiefs of Police Meeting on June 24, 2019, warned of the tie between criminal organizations and insurance fraud:
“Fraud can be a way for organized crime to bring in revenue and support its other operations. It can be a way for dishonest people to take advantage of unsuspecting citizens – sometimes threatening them with violence or retribution. Beyond that, there are also people across our province who are put at risk every time a car accident is staged to potentially secure accident benefits for the so-called victims…

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