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

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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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