Bullseye Adjusting & Associates LLC

Identity Theft on Rise for Second Year in A Row: III

 Wednesday, October 15, 2014

 Canadian Underwriter

The Insurance Information Institute (III) is encouraging vigilance to mark National Cyber Security Awareness Month in the United States and in the wake of recent figures showing that identity fraud is on the rise for the second consecutive year.Citing figures from the Federal Trade Commission, III reports that identity fraud affected more than 13 million consumers in 2013. Consumers suffered total fraud losses of more US$18 billion, averaging US$2,294 per incident, and more than 11 hours trying to resolve the average case, notes a statement this week from III.