Identity Theft, You Can Insure Yourself Against It
TALLAHASSEE, Fla. (12/11/2007) - It might be the season of giving, but a new survey shows that a majority of Americans are actually worried about what might be taken from them.
According to new research by the National Association of Insurance Commissioners, of which the Florida Office of Insurance Regulation is a member, 57 percent of U.S. adults say they are concerned about being a victim of identity theft during the holiday season and 66 percent believe they are more at risk when making purchases online.
"Repairing the damages caused by identity theft can be a lengthy, financially straining process," said Florida Insurance Commissioner Kevin McCarty. "Having the proper coverage can save time, money and stress during the busy holiday shopping season and year-round."
Identity theft, sometimes referred to as identity fraud, is a crime that involves someone using another person's personal information such as their name, Social Security number, credit card number or other financial account information - without their permission to commit fraud and/or other crimes.
A growing number of insurance companies offer identity theft insurance as an endorsement on a home or auto policy. It covers out-of-pocket costs, lost wages and other expenses associated with reestablishing damaged credit.
Consumers should talk to their insurance agents to find out if their home or auto insurance company offers identity theft coverage and to learn about the details of the loss limits and credit repair services the coverage provides.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. Business units within the Office are organized based on regulatory expertise and include the areas of life and health, property and casualty, specialty lines and other regulated insurance entities. It is within the Office that the mission of public protection is implemented through regulatory oversight of insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market.
For more information about the Office, please visit www.floir.com.
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