Canadian auto insurance fraud is racking up a massive $2 billion annual bill

auto insurance fraud

According to a recent report, many Canadians are regularly scamming their insurers, forcing premiums up. A new Aviva Canada report revealed an auto insurance fraud trend costing insurers $2 billion every year. This added expense to insurers is leading them to increase premiums to compensate for the fraudulent claims payments. Drivers across the country are being forced to pay for an incredible $2 billion in added fraudulent expenses. The Aviva Canada report was published under the title “Crash, Cash and Backlash: Aviva Fraud Report 2017.” It pointed out that honest…

Read More

Insurance Fraud and its Effect on Premiums

auto insurance ride share

Auto insurance fraud is a costly problem Insurance fraud is quite prevalent, but not necessary always in the spotlight. Many people don’t understand how fraud affects the insurance industry or that fraud also has an impact on them as well. In the auto insurance sector, fraud has become quite common, partly due to the prevalence of certain laws and the that there are groups devoted to committing fraud in a highly organized manner. Some of these groups are lead by medical and insurance professionals as well. According to the Coalition…

Read More

Largest auto insurance scam in the U.K. uncovered

Auto insurance fraud

The police have linked 60 people with the massive fraudulent claim program which is among the biggest in the country. It has just been reported that there have been 60 people that have either pleaded guilty or that have been convicted with being involved in one of the biggest auto insurance fraud scams in the United Kingdom. The range of the scam was so great that people within the area in which it was occurring were paying far more. The primary culprits behind the auto insurance fraud were in Derwentside,…

Read More

Auto insurance fraud campaign launched in Canada for month long crackdown

California Insurance company Fraud scam

A new effort in the province of Ontario has State Farm working with the official bureau to reduce scams. State Farm and the auto Insurance Bureau of Canada (IBC) have just announced the start of a partnership for a new STOP AUTO FRAUD campaign that will run throughout the month of March in Ontario in order to provide drivers in the province with more information about the signs of fraud. Vehicle claims fraud is currently estimated to cost the drivers in the province up to $1.6 billion per year. As…

Read More

Auto insurance fraud is rapidly growing in New York

Auto Insurance

This is forcing residents to have to pay more for their coverage as it is causing insurer costs to soar. A startup company that has placed its focus in auto insurance, has released an article that has detailed its data that suggests that cases of fraud are considerably on the rise in New York. The article provided an explanation of the upward trend of fraudulent claims within the state. It also went on to show that the auto insurance fraud is not a victimless crime, because it is causing residents…

Read More

Auto insurance fraud rising most quickly in Minnesota

Auto insurance fraud

The state is now leading the country in organized scams to the vehicle coverage industry. An auto insurance news report was just issued by the Insurance Federation of Minnesota, which made a call to legislators, prosecutors, and regulators to increase their efforts to crack down on the fraud that is occurring within the industry in this state. This request is to boost the efforts that these officials have already been making for this purpose. There is already a crackdown in place to help to stop the no-fault auto insurance fraud…

Read More

Auto insurance fraud is the latest NJ Assembly target

Auto insurance fraud

A new bill has been sponsored by Assemblyperson Wayne P. DeAngelo (D) to implement a crackdown. A new bill A2204 is before the Assembly, having been sponsored by Assemblyperson Wayne P. DeAngelo (D-Mercer/Middlesex) with the purpose of targeting the residents of the state who are purchasing their auto insurance in other states through fraudulent means, despite the fact that they reside primarily within New Jersey or the insured vehicle is primarily kept there. This is considered to be a form of fraud that is becoming quite costly within the state.…

Read More

Auto insurance fraud under attack in California following $1.3 million grant

California Auto Insurance

A Contra Costa district attorney has directed the funds toward an aggressive effort. According to the district attorney in Conta Costra, California, officials will now be establishing an investigation into workers’ compensation, disability, health care, and auto insurance fraud, with the assistance of a state grant worth $1.3 million. The announcement explained that these funds will help in both investigations and prosecutions. The Contra Costa County District Attorney’s Office, and the California Department of Insurance made the announcement through District Attorney Mark Peterson, saying that the grand money would be…

Read More

Auto insurance scam could impact many Detroit drivers

California Insurance company Fraud scam

Officials from the state of Michigan is cautioning motorists to look into their coverage. The Michigan Office of Financial and Insurance Regulation (OFIR) has released a warning to drivers in the Detroit area, stating that they may have purchased auto insurance policies that were fraudulent. All of the fraudulent policies come from a single agent from one agency in the Southfield. The agency in question is unlicensed and is being operated under the name Al Baraka Enterprise, located in Southfield, near Detroit. The agent who has been selling the auto…

Read More

Report shows the discrepancy of auto insurance claims in New York City

The Insurance Research Council of Pennsylvania has released a new report concerning auto claims and insured losses in New York City. New York has become infamous in the insurance industry for the multitude of auto claims that come from the state. In recent years, more claims have been coming in to insurers, many of which have been found to be fraudulent. The report highlights the differences in claiming behavior throughout the state and touches upon the discrepancies found in claims. According to the report, personal injury protection claims have risen…

Read More