Insurance Bureau of Canada applauds new SABS regulation & Ontario's fight on fraud

TORONTO, June 10, 2011 /CNW/ - Insurance Bureau of Canada (IBC) commends the provincial government for enacting Regulation 194/11 as part of its ongoing and determined policy of introducing measures designed to combat insurance fraud. The measures described in the regulation respond to specific issues that industry claims personnel have identified and which IBC recommended to FSCO.

"We are pleased that our industry will have additional resources with which to combat fraudulent activity which affects the insurance industry, and most importantly, the consumers we serve," said Ralph Palumbo, Vice-President IBC, Ontario. "We commend the work of FSCO in this regard, and, of course, the government for taking this timely and appropriate action."

Of note, FSCO's recent announcement of charges against the director of a Toronto area medical rehabilitation clinic highlights the fight against auto insurance fraud. Investigators from IBC's Investigative Services Division have been tracking fraudulent activities for many years.

Among the provisions of the new regulation is a requirement that a provider billing an Ontario insurer must produce within 10 days any information, including original documentation that an insurer may request to determine liability for payment.

"Another welcome provision of the new regulation," Palumbo said, "prohibits claimants from applying for mediation if they have failed to comply with a request for an insurer examination." The regulation is in keeping with FSCO`s recently released Bulletin A-02/11, Insurer Rights and Responsibilities to Challenge Questionable or Abusive Claims.

IBC is also eager to support the work of the province's recently announced auto insurance anti-fraud task force, with the goal of providing recommendations on the detection, investigation, enforcement and consumer education on auto insurance fraud.

About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the 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.

To view media releases and information, visit the media section of IBC's website at www.ibc.ca.

SOURCE INSURANCE BUREAU OF CANADA

For further information:

Mark Klein at 416-362-2031 ext. 4387

Profil de l'entreprise

INSURANCE BUREAU OF CANADA

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.