NADA Insurance Announces Identity Theft Coverage

NADA Insurance Announces Identity Theft Coverage

NADA Insurance is offering a new Identity Theft Insurance Plan to NADA members. The plan will provide dealers and their employees with the financial resources needed in case they are implicated in an identity theft incident.

The wide use of data processing, electronic loan origination, e-signature and web-based transactions has dramatically increased the incidence of identity theft. Since 2005, more than 88 million Americans have been victims of identity theft. Identity theft is one of the fastest growing crimes in America, says Lin Peacock, vice president of NADA Insurance. The insurance plan covers the following identity theft expenses:

Legal Liability

Regulatory Action Expenses

Notification Costs

Identity Theft Recovery Services

Defense Costs

Crisis Expenses

An identity theft case could cost a dealership hundreds of thousands of dollars and negatively impact the companys reputation, said Mr. Peacock. The new plan also protects dealers and dealer staff in cases that go to court.

The plans coverage ranges from $100,000 to $5 million. For more information or to apply for coverage, contact NADA Insurance at (888) 302-4342 or go to www.nada.insurance.com.