Author Archives: Admin2

Mr. Sousa said he will also consider creating a new “fraud squad” – a special group of investigators and prosecutors to go after fraudsters.

http://www.theglobeandmail.com/news/national/ontario-moves-to-crack-down-on-insurance-fraud/article17268890/

Moving files from one office to another isn’t enough, said Ralph Palumbo of the Insurance Bureau of Canada. The government needs to provide more resources so the “crazy” backlog of about 16,000 cases can be eliminated.

http://www.cbc.ca/news/canada/toronto/liberals-target-auto-insurance-fraud-in-bid-to-drop-premiums-1.2559364

Policyholders who use the program from Sprint through their insurers have data transmitted over the Sprint wireless network to a cloud-based system that analyzes the information with driver-scoring software.

New Legislation Would Reduce Costs, Fight Fraud and Protect Consumers

http://news.ontario.ca/mof/en/2014/03/ontario-taking-further-action-to-reduce-auto-insurance-rates.html

“Our efforts are working,” Sousa said. “In the first six months, rates have decreased by almost five per cent and we’re on track to achieve a 15 per cent reduction within those two years.”
http://toronto.ctvnews.ca/ont-aiming-at-auto-insurance-fraud-in-bid-to-drive-rates-down-1.1713204#ixzz2v1iepO00

The Fighting Fraud and Reducing Insurance Rates Act — introduced on Tuesday — is designed to speed up the process to settle disputed claims, limit vehicle storage costs at repair shops and provide stricter oversight of health clinics that charge insurance companies on behalf of accident victims, Sousa said. http://www.torontosun.com/2014/03/04/ontario-introduces-act-to-combat-auto-insurance-fraud

ICBC is projecting nearly $1 Billion in profits from 2013-2016 and the Government plans to scoop an average of $160 Million annually over this period. “Insurance Corporation of British Columbia: ICBC’s net income is forecast to average $214 million annually over the fiscal plan period.”

http://bc-injury-law.com/blog/icbc-projects-1billion-profit-20132016-government-profit-scoops-continue

However, many fear these devices could end up costing drivers even more in the long run.

http://www.680news.com/2014/02/24/usage-based-insurance-draws-mixed-reactions/

In the past, fraudsters have taken advantage of individual insurers who opted to piece together suspicious claims in isolation. A new initiative, however, is based on the whole being greater than the sum of its parts, bringing insurers together and pooling their data.

http://www.canadianunderwriter.ca/news/the-greater-whole/1002876486/508s0pqv8wrps0w24W6x08yM2vx/?ref=enews_CU&utm_source=CU&utm_medium=email&utm_campaign=CU-EN02252014

While the report is being applauded by the industry and government, an advocacy group has taken exception to statements made by Cunningham. The Fair Association of Victims for Accident Insurance Reform (FAIR), who was one of 33 stakeholders who contributed submissions to Cunningham’s report, says the final report ignores the presence of what the non-profit organization calls flawed medical opinions and how they affect cases present throughout the system. FAIR states further that medical opinions concerning accident victims is crucial to determine whether they are eligible for benefits, and that in the past “questionable medical reports” have led to insurance companies turning down claimants for benefits. http://collisionrepairmag.com/news/insurance/16430-changes-coming-to-ontario-auto-insurance-drs-following-28-point-report-