Lloyd's, Identity Fraud Inc. Toss Hat into ID Theft Protection Ring
SAN FRANCISCO - Credit unions looking to help their members in the identity theft fight now have a new option. Lloyd's and Identity Fraud, Inc.(IFI) have joined forces to provide credit union members identity theft insurance. "Identity theft and information theft continue to present significant and growing exposures for individuals and organizations around the globe. While our corporate insurance programs help protect organizations against many types of loss, we are now pleased to provide individuals with similar best-in-class protection with this partnership," said Jonathan Butcher of the SVB syndicate 1007 who is the lead underwriter for the new Lloyd's identity insurance program. According to Lloyd's, the new program combines education, prevention techniques, broad insurance and fraud resolution services. Credit unions can also customize their own program levels. IFI is no newcomer to the credit union industry and will provide insurance coverage and fraud resolution services for the new program. Patelco Credit Union was the firm's first credit union partner and has been offering its services to members for several years. "While the protection programs continue to be timely, credible, and prudent, the new Lloyd's program means our members have even better protection than before," said Patelco CU Senior Vice President/CFO Scott Waite. Federal Trade Commission surveys find that identity theft victim numbers continue to rise.