May 5, 2016
Identity theft is a problem that is not going away. This criminal act has constantly been one of the top complaints received by the Federal Trade Commission for the past 15 years. The problem has grown so severe the FTC created a new website, IdentityTheft.gov, to give consumers the ability to create personalized identity theft recovery plans.
Identity theft is an egregious invasion of privacy that causes emotional, mental and financial stress. As a person’s cyber footprint grows, their defenses from identity theft decreases. Unfortunately, self-defense is not enough to prevent identity theft as cyber-attacks target trusted companies like Target, Home Depot, ADP, and US Bank who may hold pieces of your personal information. Insurance can help mitigate the loss from identity theft.
In 1999, Travelers became the first insurer to offer consumer protection from identity theft. Acuity provides one-on-one advocacy services to help recover from identity theft. Liberty Mutual has a Fraud Crisis Resolution Center to help assist the victims of identity theft. All major insurance companies offer some type of identity theft protection. A simple endorsement to your homeowners, condo, or renter’s policy can help provide the coverage and tools needed to recover from identity theft.
Please call or email the authors of this post, or a Fedeli Group associate to discuss the coverage and limits available by this valuable protection.
October 20, 2022
On October 18, 2022, the Internal Revenue Service (IRS) released Revenue Procedure 2022-38, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,050 for plan years beginning in 2023, an increase of $200 from 2022. Thus, for health FSAs with a carryover feature, the maximum carryover amount is $610 (20% of the $3,050 salary […]
August 14, 2018
The Affordable Care Act (ACA) requires insurers who plan on modifying plan premiums to submit their rates to either the state or federal government for review. This applies to plans included on state and federal healthcare insurance exchanges. The rate review process is designed to improve insurer accountability and transparency. It ensures experts are evaluating whether the proposed rate […]