Candlelites

Everything from Everywhere

what is insurance fraud and why is it costing you so much money? | the global dispatch the global dispatch

what is insurance fraud and why is it costing you so much money? | the global dispatch the global dispatch News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



what is insurance fraud and why is it costing you so much money? | the global dispatch the global dispatch

share thistagsauto insurancecanadacanada newscar accidentcar insuranceco-insurancecost controldisability insurancehealth insurancehidden moneyinsuranceinsurance policyinsurance riderontariotax fraudinsurance fraud might seem like a victimless crime – after all, it’s only big companies losing money, right? the truth is that this common crime is costing regular drivers every time they pay their insurance bill. so, what is insurance fraud and why is it costing you so much money? photo supplied, courtesy of guest blogging networkauto insurance fraud is an attempt to deceive insurance companies as a way to make money. the ibc estimates that insurance fraud costs ontario drivers an estimated $1.6 billion each year, or, an extra $236 per person. the insurance bureau of canada (ibc) divides auto insurance fraud it into two categories: opportunistic and premeditated. opportunistic fraud refers to when individuals use a legitimate loss to inflate their claim, such as including pre-collision damage in a repair bill following an accident, causing additional damage after an accident to increase the claim payment, and making a claim for property that was not actually stolen in a theft. for example, a recent investigation by a canadian insurer revealed that 9 out of ten auto body shops participated in opportunistic fraud, charging the insurer $61,000 to cover $30,000 worth of damages. premeditated fraud refers to an instance where someone devises a way to claim an insured loss. this can...