Allianz Group company Fireman's Fund Insurance Company has launched Identity Theft Restoration Services throughout the US. The service will provide access to specialist crisis managers, who will work to recover the status of identity theft victims.
Identify theft is the fastest-growing crime in America, with victims numbering in the millions and economic loss exceeding $50 billion annually. The US Federal Trade Commission reports that the average victim spent 60 hours resolving fraud involving new accounts, adding up to a total of 297 million hours spent on identity theft resolution in 2003.
Publicity surrounding this epidemic has resulted in demands from agents and policyholders who want substantial insurance protection against financial loss and assistance in dealing with the ensuing crisis a victim experiences.
Fireman’s Fund’s new product will look to cater for the new demand by offering customers access to a personal counselor who can help identity theft victims with the legal and logistical burden of reclaiming their identity.
As part of the new service, the company will provide advice and advocacy services including toll-free access to a personal advocate who works with victims one-on-one, fast notification to relevant agencies, arrangement of appointments with law enforcement, ongoing credit monitoring and fraud alerts, and restoration of credit files, Department of Motor Vehicle (DMV) records, government records and financial accounts.
This enhancement will come as a free addition to Fireman’s Fund policyholders who have Prestige Home Premier with Added Measure coverage. The service will be available in the US from the end of March.