The popularity and demand of Identity Theft Protection as an employee benefit has been growing year over year. Due to growing corporate breaches and continued cyber threats, employer sponsored identity theft insurance has become essential in employer benefit packages. This demand has made identity theft protection the new core benefit for insurance brokers to provide to their clients.
With 16.7 million victims of identity fraud last year alone, the need for identity protection insurance is rising and will continue to grow as employees further integrate their lives electronically. Identity theft services help safeguard employee’s personal identity, credit, and financial well-being while mitigating employer risk in the event of a breach.
The average out-of-pocket loss for an identity theft incident is $3500 and the average time to repair those damages is 200 hours. This time required and underlying stress results in a significant loss of productivity at work. Legal Resources Identity Theft Protection plans can combat this by offering industry-leading protection with monitoring, real-time alerts, and fully-managed restoration with up to $1 million of identity theft insurance in the event of an incident.
Insurance brokers are leveraging this in-demand benefit as a way to provide additional value to their clients. Become a partner today with Legal Resources.