Encompass Begins I.D. Fraud Coverage
NU Online News Service, July 2, 12:35 p.m. EST?Encompass Insurance announced the launch of an identity theft insurance program to be sold through its independent agent affiliates today.
The Chicago-based carrier said the coverage would provide up to $20,000 in coverage for expenses resulting from attorney fees, loan expenses, up to $500 per week for lost wages, and other legal fees. Terms may vary by state.
Cases of identity fraud are growing spurred by increased use of electronic financial transactions, the company noted. Encompass said, according to federal government statistics, identity theft is costing Americans more than one billion dollars annually, and is the fastest growing form of theft in the country.
The coverage is now available in 30 states, the carrier said.
Encompass is a subsidiary of Allstate Insurance, headquartered in Northbrook, Ill., and sells its products through independent agents.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
