1 / 8

Uncovering Insurance Fraud: Risks, Statistics & Solutions

Explore the ins and outs of insurance fraud, its impact on Canadian insurers, and effective pre- and post-litigation strategies to combat fraudulent activities in the industry.

elliottmichael
Download Presentation

Uncovering Insurance Fraud: Risks, Statistics & Solutions

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. THE “F” WORD IS FRAUD A RISK? CHRISTOPHER R. DUNN DUTTON BROCK LLP

  2. WHAT IS INSURANCE FRAUD? • Any act or omission with a view to illegally obtaining an insurance benefit • Fraud is perceived as the quintessential “victimless” crime

  3. TYPES OF INSURANCE FRAUD: • Auto • Business losses • Commercial • Life/disability

  4. FRAUD STATISTICS: • Insurance fraud costs Canadian insurer’s an estimated $1.3 billion (cdn.) each year • 10% to 15% of insurance premiums for auto, home and business insurance go to pay for false or exaggerated claims • Ontario is a hotbed for insurance fraud

  5. FRAUD MANAGEMENT (pre-litigation): • Indicators and Awareness • Quality controls • Profiling/Scoring • Hand-off procedures • Specialists

  6. WHAT IS THE ANSWER (post-litigation)? • Surveillance • Internet searches, ie. Facebook • Examinations Under Oath • Ontario Rules of Civil Procedure • Learning from the ICBC model

  7. Questions?

  8. Thank you!

More Related