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Who Pays for Insurance Fraud

Who Pays for Insurance Fraud ?


March is Fraud Prevention Month, a good time to highlight that insurance crime impacts us all. The human and financial costs of insurance-related crimes such as fake accidents and falsifying insurance claims not only affect the unsuspecting victims, but the general public by needlessly using up valuable law enforcement and court and health care resources, which translates into all Canadians paying higher taxes and significantly higher insurance premiums.

The cost of fraud is bilking Canadian drivers to the tune of over $1 billion dollars annually. For example, according to the Insurance Bureau of Canada (IBC), the average auto premium in Ontario in 2020 was $1616, and up to $236 of that premium was due to the costs of insurance fraud.

To raise awareness and coordinate efforts to fight insurance crime, IBC and its member property and casualty insurers work with law enforcement agencies, all levels of government, insurance brokers’ organizations, and other stakeholders across Canada.

Go to for tips on how to protect yourself from becoming a victim of insurance crime. If you think you may be a victim of fraud or are aware of someone committing the act, contact your insurance provider and report it. You can also report it to Crime Stoppers, the Canadian Anti-Fraud Centre, or call IBC’s anonymous tip line 1-877-IBC-TIPS.