U.S. consumers looking to insurers for identitiy theft solutions

Slightly more people would search for identity theft solutions from an insurance company than they would from either banks or credit card companies, according to a survey by the National Association of Insurance Commissioners (NAIC).
The NAIC’s national survey polled a nationally representative sample of 500 adults aged 18 and older. The survey was conducted Nov. 16 to Nov. 22, 2007.
“If seeking insurance coverage for identity theft, 38% of respondents said they would look to insurance companies, 34% said they would look to credit card companies and 27% said they would look to banks,” according to an NAIC press release announcing the survey results.
The survey indicated 57% of U.S. adults say they are concerned about being a victim of identity theft during the holiday season. Sixty-six per cent believe they are more at risk when making purchases online.
NAIC also cites the Federal Trade Commission, which noted 8.3 million Americans were victims of identity theft in 2005.
In the NAIC’s own study, 32% of respondents said they were victims or knew someone who had been a victim of identity theft in the past five years.
Of these respondents, 46% said their identity theft exceeded $1,000. Forty-two per cent said it took three months or longer to resolve the problem.
“Identity theft is one of the fastest growing crimes in the United States, affecting consumers of all ages,” said NAIC president and Kansas Insurance Commissioner Sandy Praeger. “It’s critical for consumers to know how to protect themselves and reduce the risk of becoming a victim.”