Consumers have been digging their heads in the sand when it comes to the very common threat of ID theft insurance and fraud insurance because they don’t believe such insurance crimes will ever happen them, an industry expert has suggested.

A senior director for a leading insurer has stated that large numbers of consumers in the country have not yet been hot by any form of identity fraud. Even though many companies provide such online insurance against such crimes, consumers had been reluctant to take up this type of specialist insurance even though there were over 75,000 reported cases of ID theft and fraud in the UK last year.

He added that most consumers do not believe that identity fraud will ever affect and subsequently they do not insure against it. This is a common problem with throughout the insurance market, consumers only take it out either when they have to, or when its too late.

However, the senior director claimed that, more positively the market for ID fraud insurance was growing and that the flexibility of policies is causing more people to take out tailored insurance policies to suit their needs.

This entry was posted on Wednesday, July 9th, 2008 at 3:15 pm and is filed under Specialist Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.