Introduction
With increasing media attention being devoted to the issue of identity theft and the advent of chip and pin, which is expected to increase the prevalence of this crime, it seems logical that the insurance industry has developed a policy that offers protection against this risk. But what is the potential for growth in this market?
Scope of this report
- Provides government statistics on the prevalence of identity fraud in the UK
- Examines the insurance product and its different guises
- Draws on US statistics to highlight the costs victims have to bear in terms of money and time
Research and analysis highlights
Approximately 120,000 people in the UK were victims of identity fraud in 2004, a figure that has dramatically increased in recent years. The number of cases of identity theft increased by 37 per cent in 2003 and by 19 per cent in 2004.
Key reasons to read this report
- Understand the scale of the identity fraud problem in the UK
- Identify who is offering this type of cover and how they are selling it
- Gain insight into the factors that are going to affect the future development of this market
With increasing media attention being devoted to the issue of identity theft and the advent of chip and pin, which is expected to increase the prevalence of this crime, it seems logical that the insurance industry has developed a policy that offers protection against this risk.