Susan Solves It: Protecting Yourself from Insurance Identity Theft

The Rise of Insurance Identity Theft

• ⚠️ Insurance identity theft is a growing scam where individuals exploit personal information to make unauthorized claims or exploit existing policies.
• 📈 Reports of insurance identity theft surged by nearly 40% last year, with almost 16,000 cases reported to the FTC.
• 🤖 Experts attribute this increase to the greater availability of personal information online and the use of AI to create more convincing scams.

How Insurance Identity Theft Affects Victims

• ⏳ This type of fraud can go undetected for months and be difficult to resolve.
• 💸 Consequences include increased premiums, a negative impact on your claims history, and potentially a canceled policy.

Protecting Yourself from Fraud

• 📄 Always review your insurance statements for unusual activity, such as unfamiliar claims or providers.
• 📞 Be cautious about sharing personal information over the phone, online, or via email.
• shredding 💡 Destroy identifying documents like medical records and insurance statements before discarding them.