Identity Theft Insurance Miserly Upon Misery

Author

John Lawford, Jim Dingwall

Organization

Public Interest Advocacy Centre (PIAC)

Published

2006

Summary

This report examines the nascent identity theft insurance market and related consumer service of “credit monitoring”. The report concludes that the present product offerings of both identity theft insurance and credit monitoring are flawed in that a major component of each is already provided free to consumers who are aware of it. Identity theft insurance coverage of credit or debit card losses is superfluous in most cases given the existence of zero liability policies of major credit card issuers and because debit card losses in most cases are reimbursed under a voluntary bank debit card code.

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OCA Funded Research
This research received funding support through the Office of Consumer Affairs' Contributions Program.

Contact information

Source: Consumer Policy Research Database