The facts are clear: identity theft is one of the fastest rising crimes in America, affecting 10 million people each year. And when consumers look for identity theft solutions, they look to the insurance industry – even more so than banks or credit card companies, according to a new NAIC poll. It’s not hard to imagine why. After all, who else has the infrastructure in place to provide this type of assistance?

Insurance companies typically offer one of two types of identity theft-related policies. The first and more familiar is expense coverage. Typically attached to a homeowner’s policy, this endorsement provides a specified reimbursement, subject to a deductible, for the costs associated with reestablishing the victim’s identity. While valuable, expense coverage is a limited solution to a complex problem. However, for consumers and insurance companies alike, identity management services are an even more comprehensive proposition.

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