HSB expands identity recovery coverage

Hartford Steam Boiler (HSB), part of Munich Re, has extended its identity recovery coverage for business employees to family members and other groups, including membership associations, university students and alumni.

The coverage has also been expanded to combine expense reimbursement with additional identity theft detection services that monitor personal identity records and help individuals respond if they become victims of identity theft.

It offers an identity recovery help line operated by experienced counsellors, case management services to guide victims through the process of restoring their identity, and expense reimbursement. Monitoring services are available via Kroll, a global cyber response company, to help people identify instances of identity theft.

A recent HSB cyber survey shows that 23 percent of individuals have had their personal identity stolen, a number that has been steadily increasing. Victims need help to regain control of their identity and credit standing, which can be expensive and time consuming.

David Mercier, senior vice president for HSB, warned that identity thieves are constantly adapting their lines of attack and will continue to do so. “It’s important for insurance coverage to stay ahead of changing risks,” he said.

HSB identity recovery coverage is currently available in 47 US states, with regulatory approvals expected throughout the country in coming months.