What to do if you suspect insurance fraud:
If you suspect that fraudulent activity or insurance crime may be occurring, you are encouraged to report it. There are several ways to do this:
1. Contact The Commonwell directly by emailing fraudprevention@thecommonwell.ca
2. Contact the Insurance Bureau of Canada (IBC) by filing an anonymous tip on the IBC website or calling the Fraud Hotline at 1-877-IBC-TIPS (1-877-422-8477)
3. Call Crime Stoppers directly at 1-800-222-TIPS (1-800-222-8477) to report insurance fraud anonymously.
4. Contact the Équité Association at 1-877-422-TIPS (8477) or 1-866-422-4331 (pour le service en français). To learn about Équité Association click here.
What is insurance fraud?
Insurance fraud involves deceptive actions or statements that are made with the intention of gaining financial benefits from an insurance policy.
What is The Commonwell’s stance on insurance fraud?
The Commonwell takes insurance crime seriously, as it impacts everyone. Our commitment to protecting our Members includes zero tolerance for fraudulent conduct. We will do this by working together with other P&C industry insurers and law enforcement agencies to reduce the impact of insurance crime on our Members and help create safer communities for everyone.
Why is it important to try to stop insurance fraud?
The impact of insurance fraud is felt by everyone. Not only is it a direct financial impact to the insurance companies, but in turn the financial losses are passed on to consumers in the form of higher premiums. Helping to stop insurance fraud helps maintain a fair and reliable insurance system.
What are some examples of insurance fraud?
– Individuals who fake or exaggerate an accident, injury, theft or other claim with the intention of collecting insurance payouts they are not entitled to.
– Individuals or groups that intentionally cause collisions to obtain insurance benefits.
– Vendors who intentionally exaggerate the cost of claims, i.e. auto body shop that charges for work it does not need to complete.
– Health care clinics that bill for treatments that are not completed
– Individuals who provide false particulars on an insurance application for the purpose of a reduced premium.