The BC Government and ICBC have announced a new analytics system to better detect future fraud. Over the coming months, Canada’s second largest insurance company will use this technological tool to investigate and even issue criminal charges to any who overstates their claim after an accident.
10-20% of BC’s insurance claims considered fraud
According to Fairbridge, 10-20% of BC’s insurance claims are considered fraud, with almost all of them resulting in hefty fines for long convictions. Transportation Minister Todd Stone hopes this new program will put the public at ease. Stone says false claims have included overstating injuries, claiming vehicle damage unrelated to an incident, or even staging an accident.
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