At the end of Crime Stoppers Month IBC says: "Take the time, learn about insurance crime"

TORONTO, Jan. 25, 2012 /CNW/ - Nearing the end of Crime Stoppers Month, Insurance Bureau of Canada (IBC) urges Canadians to take the time to learn about - and report suspected - insurance crime.

"Insurance crime - and fraud in particular - is a serious problem right across Canada and we all pay for it in the form of increased premiums," said Rick Dubin, Vice-President, Investigative Services, IBC.

He added: "The problems of auto theft and insurance fraud transcend our borders and often involve international organized crime rings. By working together - the insurance industry, law enforcement, government and ordinary Canadians - we can make a difference in the fight against these types of crimes."

Federal legislation such as Bill S-9 (Tackling Auto Theft and Property Crime Act) increases the risk of serious penalties for those involved in auto theft and any property obtained by crime.

Additionally, Ontario, which has been hit the hardest by fraud, has initiated measures to counteract auto-related fraud. In addition to recent reforms to tighten auto insurance loopholes, the government created an Auto Insurance Anti-Fraud Task Force, which is aimed at fighting insurance fraud at its core.

Vigilance and public awareness are also important in the battle against insurance crime. To help avoid purchasing a stolen vehicle, consumers should buy cars from a reputable dealer. Running a car history report also helps to reduce the likelihood that you will be a victim of auto theft.

To help Canadians better understand the problem of insurance fraud, IBC created this short video: Click here.

IBC has been helping Canadians fight auto theft for more than 80 years, and continues to advocate for measures to address the underlying factors that contribute to the problem of insurance fraud.

Fraud costs everyone. If consumers are aware of someone who is cheating the system, they should TAKE THE TIME, REPORT THE CRIME. Submit a confidential tip by calling 1-877-IBC-TIPS (1-877-422-8477) or visit www.ibc.ca.

About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association representing Canada's home, car and business insurers. Its member companies represent 90% of the private property and casualty (P&C) insurance market in Canada. The P&C insurance industry employs over 114,000 Canadians, pays more than $7 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $40 billion.

For more information about insurance crime and other insurance topics, and to view media releases, visit IBC's website at www.ibc.ca.

PDF with caption: "Example of a fraudulent insurance claim.". PDF available at: http://stream1.newswire.ca/media/2012/01/25/20120125_C6691_DOC_EN_9222.pdf

SOURCE INSURANCE BUREAU OF CANADA

For further information:

contact Erika Bennett at 416-362-2031 ext. 4312

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