Manitoba Public Insurance has recorded nearly $40 million in claims savings over the last five years thanks to successful investigation efforts by the public auto insurer.
March is Fraud Prevention Month in Canada and this year marks the 14th anniversary of the annual education and awareness campaign that encourages Canadians to recognize, reject and report fraud.
“Insurance fraud is a crime that costs all rate payers,” said Ward Keith, vice-president, Business Development and Communications, CAO, Manitoba Public Insurance. “This is why we have a dedicated focus on investigating potential fraudulent claims that may include vehicle arson, hit and run claims, staged collisions, false vandalism claims or arranged vehicle thefts.”
Recorded claims savings over the last five years are based on a reconciliation of fraudulent claims denied, money recovered after payments were made, and customers withdrawing suspicious claims when put under investigation.
In its efforts to keep automobile insurance rates as low as possible, the Corporation issues each year its highly popular Top 5 Fraud list. In addition, front-line staff receive specialized training to assist in identifying suspicious claims which may then be reviewed by Manitoba Public Insurance’s Special Investigation Unit.
Special investigators handle about 3,000 claims yearly. In addition to the efforts of its investigators, Manitoba Public Insurance has an excellent working relationship with police agencies throughout Manitoba. The Corporation also operates a dedicated TIPS Line, which is a valuable source of information for fraud investigators. Anyone with information about auto insurance fraud is encouraged to report their suspicions through the Corporation’s TIPS Line by calling 204-985-8477 or toll-free 1-877-985-8477. All calls are treated anonymously.
Information about Insurance Fraud
Fraud Prevention Month is an annual campaign held in March that aims to prevent Canadians from becoming victims of fraud. Insurance fraud – automobile, home or health care – costs Canadians more than $3 billion a year in premiums, according to the Insurance Bureau of Canada.
Organizations around the world lose an estimated five per cent of their annual revenues to fraud, according to a survey of fraud experts conducted by the Association of Certified Fraud Examiners (ACFE).