08:05:14 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Sun Life Financial Inc
Symbol SLF
Shares Issued 586,902,472
Close 2023-08-08 C$ 68.52
Market Cap C$ 40,214,557,381
Recent Sedar Documents

Globe says Intact, rivals hear car thievery an issue

2023-08-09 07:30 ET - In the News

See In the News (C-IFC) Intact Financial Corp

The Globe and Mail reports in its Wednesday, Aug. 9, edition that organized crime groups have adopted a new tactic that has helped take car thefts across Canada to crisis levels: inside jobs. The Globe's Molly Hayes writes that police are increasingly seeing organized crime groups pressure debtors and other people they have leverage over to report that their car has been stolen when, in fact, they have voluntarily handed it over to thieves. Detective Inspector Scott Wade says the result is an insurance claim for a vehicle that was never really stolen -- creating a cascade of issues, including fraudulent insurance claims and higher rates for non-criminal drivers. It is reminiscent of the mass fraud and corruption identified within the Ontario towing industry, which a 2020 Globe investigation revealed is rife with violence and forged collision reports for insurance fraud. Det. Insp. Wade says there is a definite link between the car thefts and the towing industry, which is why his specialized unit has been tasked with cracking down on both. The Insurance Bureau of Canada estimates auto theft in Ontario makes up about $125 of the average Ontario auto premium, which was about $1,700 in April, 2023.

© 2024 Canjex Publishing Ltd. All rights reserved.