TORONTO, March 21, 2013 /CNW/ - Today, the Financial Services Commission
of Ontario and the Toronto Police Service launched a series of Public
Service Announcements (PSAs) on what drivers should do after a
collision to protect themselves from fraud.
The PSAs are accompanied by helpful infographics and cover:
"Don't let yourself become a victim of fraud. Be alert for signs or
behaviours that suggest a staged collision. Record all relevant details
and take pictures, if you can. This information will help us, help
you," says Constable Clinton Stibbe of Toronto Police Service's Traffic
Philip Howell, CEO and Superintendent of Financial Services, adds "By
being vigilant, Ontario drivers can help stop fraudsters who abuse the
auto insurance system and take money out of drivers' pockets through
If consumers suspect insurance fraud, they should report it to police, Crime Stoppers (1-800-222-TIPS) or FSCO.
About the Financial Services Commission of Ontario
FSCO is an agency of the Ministry of Finance established under the
Financial Services Commission of Ontario Act, 1997. It regulates
insurance, pension plans, loan and trust companies, credit unions and
caisses populaires, co-operative corporations and mortgage brokerages
and administrators in Ontario.
FSCO investigates allegations of misconduct, unfair practices and
non-compliance with legislation or regulations in its regulated
sectors. When warranted, FSCO takes enforcement action.
In its Final Report, Ontario's Auto Insurance Anti-Fraud Task Force
concluded that fraud in the auto insurance system is substantial and
has a significant impact on premiums.
The Task Force's Final Report contains 38 targeted recommendations on
four key areas: fraud prevention, detection, investigation and
enforcement and regulatory roles and responsibilities.
It's estimated that GTA drivers pay as high as $540 more on their auto
insurance each year as a result of fraud, according to research
conducted by Ontario's Auto Insurance Anti-Fraud Task Force.
SOURCE: Financial Services Commission of Ontario
For further information: