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Identity theft rates are on the rise, having made over 10 million people across America victims of the crime in 2008. A study conducted by Javelin Strategy and Research Centre has revealed that this is a 22% increase from 2007, and losses have totaled more than $54 billion. Because identity thefts have a 1 in 700 chance of being caught, victims must pay out of pocket to repair the damage to their credit score and bank accounts.
That’s why Affinion Security has announced the addition of a $1 million identity insurance limit which not only covers losses incurred by the crime, but the identity insurance benefit, now available in all 50 states, also reimburses victims for costs associated with clearing their names, including court costs, lost wages and attorney fees. Those who have fallen victim to identity theft will also be reimbursed for funds that were stolen via unauthorized fund transfers. This benefit makes Affinion’s Identity Insurance distinctive, as insurance providers generally reimburse victims for fraudulent purchases only. Credit card fraud only accounts for 26% of the identity theft crimes committed in America, so Affinion’s practices are of beneficial use to anyone who has been a victim of other types of identity theft, including loan fraud and bank fraud.
Affinion Security is a global leader in identity protection and security services. For 35 years, it has powered some of the world’s leading data protection solutions offered internationally for financial, retail and travel industries. Today, Affinion provides protection for over 10 million subscribers with its identity protection services and identity theft insurance.