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Act now on fraud, says Canadian...

July 30, 2010

POLICE enforcement, legislative changes and new rules for medical clinics are needed to stop insurance fraud causing an increase in insurance premiums, claimed RBC Insurance in a press conference yesterday. The company cited one extreme instance where three minor injury claims from one accident led to 76 different treatments involving 50 different assessors. In each case of injury assessment, a fee is claimed from the insurer by the clinic or practitioner. RBC Insurance head of life, health and casualty claims Ken Bowman said that “we suspect that sometimes clients aren’t always attending all of these”. The Toronto Globe & Mail noted Mr Bowman’s assertion that a small industry had formed in Ontario to take advantage of the province’s generous motor insurance rules. This includes a mandatory C$100,000 (US$97,000) level of cover for medical rehabilitation, no matter how minor the injury. The...

See also

Italy plans action on motor rates

July 30, 2010

ITALIAN insurance regulator ISVAP has promised that it will take action this year to reduce...

Court decision highlights conflict in solicitors’ duty

July 30, 2010

THE UK Court of Appeal’s judgment in Quinn v Law Society (14 July) has serious...

New US insurance office created

July 30, 2010

ON July 21, 2010, US President Obama signed the Dodd-Frank Wall Street Reform and Consumer...

Supervisory standards in Bermuda and Switzerland find favour

July 30, 2010

FOR certain insurance jurisdictions, the road to third country equivalence under Solvency II has become...

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