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Recent articles estimate that Insurance Fraud costs Canadian insurers over $540 million annually and that “Insurance companies around the world are reporting a higher number of bogus claims from cash-strapped motorists, homeowners and other con artists“. Combating fraud is an uphill battle. Stung by staggering fraud-related losses, insurers readily acknowledge the seriousness of fraud and their responsibility to take the offensive in eradicating it.
Canadian Insurance companies from both Life and Health and Property and Casualty divisions consistently refer their adjusters to Corporate Investigation Services for the investigation of suspected fraudulent claims. With over 13000 case files investigated over the past 27 years, we are familiar with the nature and purpose of all varieties of claim investigations.
Methods of defrauding insurance companies are far and wide, as are the means of investigating them. One of the most common forms of insurance fraud is the exaggeration of injuries. Because many injuries can be exceptionally difficult to quantify (for example, psychological injuries or physical injuries such as soft tissue damage), surveillance is often employed in such circumstances to verify the claim.
While determination of fraudulent claims is typically the primary purpose of initiating an investigation, CIS understands that’s not always the insurance adjuster’s intent. This is especially noted in the case of new claims. Our team realizes adjusters often simply require well-conducted initial inquiries at a reasonable cost in order to determine a claim`s validity. The result of such preliminary inquiries may determine whether or not a full insurance fraud investigation is necessary for a new claim. CIS can assist with the following:
Our insurance fraud investigators have the experience and expertise needed to assist adjusters and litigators to identify and mitigate the losses caused by falsified claims. Our investigators can obtain irrefutable evidence to counter claims fraud.
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