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Insurance fraud estimation : more evidence from the Quebec automobile insurance industry

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  • L. Caron
  • G. Dionne

Abstract

This article follows a previous study on insurance fraud in the Quebec automobile insurance industry (Dionne and Belhadji, 1996). Results from that research showed that 3 to 6,4% of all claim payments (excluding those for "glass damage only") contained fraud, representing 28 to 61 million dollars in 1994-1995. This evaluation was a minimum since it was limited to observed fraud only. In this paper, we apply a statistical method to estimate the total fraud level in the industry for the same period. Our results show a multiplicative factor of 3,4% of fraudulent files found in Dionne and Belhadji, which means that total fraud payments ranged from 96,2 to 208,4 million dollars in 1994-1995. Our Best Guest Estimator roughly a 10% fraud rate or about 113,5 million dollars.

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Bibliographic Info

Paper provided by THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise in its series THEMA Working Papers with number 97-21.

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Date of creation: 1997
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Handle: RePEc:ema:worpap:97-21

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Cited by:
  1. Dionne, Georges & Gagne, Robert, 2002. " Replacement Cost Endorsement and Opportunistic Fraud in Automobile Insurance," Journal of Risk and Uncertainty, Springer, Springer, vol. 24(3), pages 213-30, May.
  2. G. Dionne, 1998. "La mesure empirique des problèmes d'information," THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise 98-33, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  3. Lang, Matthias & Wambach, Achim, 2013. "The fog of fraud – Mitigating fraud by strategic ambiguity," Games and Economic Behavior, Elsevier, Elsevier, vol. 81(C), pages 255-275.
  4. Georges Dionne, 2012. "The Empirical Measure of Information Problems with Emphasis on Insurance Fraud and Dynamic Data," Cahiers de recherche, CIRPEE 1233, CIRPEE.
  5. Domenico SCALERA & Alberto ZAZZARO, 2004. "From regulation to free market: the experience of the European motor insurance market," Working Papers, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali 205, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  6. Richard Watt, 2003. "Curtailing Ex-Post Fraud in Risk Sharing Arrangements," European Journal of Law and Economics, Springer, Springer, vol. 16(2), pages 247-263, September.
  7. Fabian Herweg & Daniel Müller & Philipp Weinschenk, 2008. "The Optimality of Simple Contracts: Moral Hazard and Loss Aversion," Bonn Econ Discussion Papers, University of Bonn, Germany bgse17_2008, University of Bonn, Germany.

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