How would you feel if you were stopped for a traffic violation and suddenly found yourself being handcuffed and taken to jail for a crime you never committed? Or if you got a nasty call from a collection agency for a car loan you never had? Or if your application for a home mortgage was turned down because of information in your credit report about overdue bills on accounts you never opened?

These are situations you could face as a victim of identity theft. While ID theft can take many complex forms, the essence of this crime is simple—someone steals personal information about you to use for fraudulent purposes. As we approach the holiday season, we’d like to pass along some information that may be helpful to you and useful to your insureds.

The National Consumers League, the oldest consumer protection organization in the United States, has complied an excellent web resource on the steps people can take to fight ID theft. Called Invasion of the ID Snatchers, the web resource has tips for individuals and businesses to secure their information, as well as a FAQ on what to do if you think your financial information has been compromised. The FAQ would make an excellent one-page handout to give to your clients.

November 20, 2007