IBC teams up with Toronto Police on Project Whiplash: Cooperation between insurance industry and police help foil a suspected organized fraud ring

TORONTO, Feb. 23, 2012 /CNW/ - Toronto Police today laid charges in connection with Project Whiplash, where it is alleged that a complicated insurance fraud ring has staged auto collisions, made false claims at several rehab providers across the Greater Toronto Area, and falsely used the identities of several medical practitioners. The alleged scam targeted numerous insurers and resulted in estimated fraudulent pay-outs of $4 million.

Insurance Bureau of Canada (IBC) congratulates Toronto Police Service for its commitment to this case, and we are proud of the key role IBC and its member insurance companies played in the investigation.

"We take insurance crime seriously," said Rick Dubin, Vice-President, Investigative Services, IBC.  "Insurance crime is not victimless. The cost to everyone is reflected in health care, emergency services, court and insurance costs. Insurance criminals take money right out of your pocket - when they cheat, you pay."

IBC supported the police and continue to support FSCO investigations by collecting and collating information from member insurers and by acting as a liaison for all involved parties.

Dubin added: "This investigation would not have had the successful results that it did if it were not for the commitment and co-operation of all involved stakeholder organizations: Police, IBC, individual insurance companies and the Financial Services Commission of Ontario.

"IBC will continue to work with law enforcement and insurers to identify criminal activity," said Dubin.  "To help catch fraudsters, IBC encourages people with any information about insurance crime to call our anonymous TIPS line (1-877-IBC TIPS)."

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.

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

SOURCE INSURANCE BUREAU OF CANADA

For further information:

To arrange for an interview with Rick Dubin, contact Ellen Woodger at 416-483-2358

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INSURANCE BUREAU OF CANADA

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