Fireman’s Fund to Offer ID Theft Restoration Services

March 28, 2005

Fireman’s Fund Insurance Company announced that it will provide Identity Theft Restoration Services nationally, offering customers access to a personal counselor who can help identity theft victims with the legal and logistical burden of putting their lives back together.

This enhancement will come at no additional cost — and with no deductible — to Fireman’s Fund policyholders who have Prestige Home Premier with Added Measure coverage and will be available effective March 30.

“Coverage for the expenses associated with identity theft has become a standard add-on to many homeowners insurance policies. But our new service addresses the real issues associated with identity theft — the hassle and headache of correcting the problems caused by fraud,” said Scott Garfield, vice president, sales and marketing, Personal Insurance. “Identity theft not only is stressful for the victim, but can also prove costly and time consuming.”

Identify theft is the fastest growing crime in America, with victims numbering in the millions and economic loss exceeding $50 billion annually. A report by the Federal Trade Commission showed 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 has had coverage for identity theft since 2003 with its Identify Fraud Expense coverage of $25,000 on its Prestige Home Premier with Added Measure product.

As part of the new service, Fireman’s Fund 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, DMV records, government records and financial accounts.

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