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Insurance fraud costs us all money

The insurance industry estimates that 10 to 15 cents of every dollar paid in premiums goes to paying fraudulent claims–totaling more than $1.3 billion each year. This makes insurance fraud second only to the drug trade as a source of illegal profits in North America.

It’s easy to sit back and say “There’s nothing I can do to stop fraud,” but there is something you can do. Insurance fraud is often the result of fairly routine manipulations of the system – a tow truck driver who recommends a garage and gets a commission for doing so; a service provider who bumps up a charge because they know the insurer is paying; or a paralegal who asks for a percentage of an insurance award. These may seem harmless to you, but they are part of the web of fraud schemes that are costing you money. When you see fraudulent activity, challenge the service provider directly or report the behaviour to the police. Source: Insurance Brokers Association of Ontario

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HAMILTON
100-1725 Upper James St
Hamilton, ON L9B 1K7
Local: 905-575-5969
Toll-Free: 1-800-463-8074

OAKVILLE
112 Wilson St
Oakville, ON L6K 3G6
Local: 905-338-6888
Toll-Free: 1-866-610-6888

ST. CATHARINES
102-25 Corporate Park Drive
St. Catharines, ON L2S 3W2
Local: 905-688-2772
Toll-Free: 1-877-280-2772

HAGERSVILLE
6 Parkview Road, P.O. Box 28
Hagersville, ON N0A 1H0
Local: 905-768-3384
Toll-Free: 1-800-665-7790

TORONTO
1005-480 University Ave
Toronto, ON M5G 1V2
Local: 416-506-JENN (5366)
Toll-Free: 1-800-463-8074