WHY RISK MANAGE

Although you cannot prevent an identity theft event from happening, you can manage and minimize the risk of becoming a victim. We liken this risk management process to preventing a fire in your home.

While you cannot always prevent a fire from happening, you can manage and minimize the risk of a fire by implementing prevention techniques: such as teaching your children not to play with matches and putting smoke detectors throughout your house to keep up with current safety codes. In the unlikely event that you do have a fire, it's always nice to have a fire extinguisher close by.

Our proprietary risk management process for the My ID Site™ ProgramTM is built the same way. We begin with our Awareness Module which is all about educating you and your family on the latest scams and techniques used by identity theft thieves.

Our Prevention Module educates and teaches our members about the latest prevention products and tips available. And in the unlikely event that you become the victim of an identity theft event, our Recovery Module will assist you in helping you get your identity back.

In addition, our Insurance Module provides our members with financial reimbursement, because in the event of an identity theft, there will be out-of-pocket and miscellaneous expenses associated with getting your identity back.

According to April 2006 U.S. Department of Justice, National Crime Victimization Survey, and the costs associated with being an identity theft victim are:

  • Total estimated loss as a result of identity theft was $3.2 billion in 2004.

  • The average out-of-pocket dollars spent by victims of misuse of personal information in 2004 is $2,360.

  • The average active time spent by victims of misuse of personal information in 2004 resolving the case was 3 months or more.

According to IT Risk Managers research, "the emotional cost of becoming an identity theft victim is priceless."

Therefore, why risk manage? If the average cost of getting your identity back in 2004 was approximately $2360 and growing; and if you can purchase our Identity Theft Program TM which includes our proprietary risk management process for you and your entire family (2 adults and all children 23 years of age and younger) for less than $50 per year, then ask yourself what is the probability of me or one of my family members having an identity theft event and becoming a victim?

 

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IT Risk Managers is the Program Administrator for the Program for the myIDSite program. IT Risk Managers, Inc., based out of Okemos, Michigan, is one the industry's premier brokers for Internet & Technology (Network) insurance. We are a licensed insurance broker that specializes in providing risk management solutions for companies that are in the technology business or for companies that use technology.

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*Insurance underwritten by member companies of American International Group, Inc. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. For questions about coverage, please contact idtheft@aig.com or 866-826-4974. Coverage not available to residents of New York and may not be available in other jurisdictions.


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