The number of identity fraud victims increased by 12 percent in 2009 to 11.1 million and cost $54 billion, the highest rate of increase in the past seven years, according to Javelin Strategy & Research. Small business owners were at increased risk, falling victim to identity fraud at one-and-a-half times the rate of other adults. This may be the result of small business owners often using personal accounts and corresponding home addresses when making business transactions.
LIBRIS, the American Booksellers Association's insurance program, now provides member bookstore owners and their spouses with valuable Identity Fraud Expense protection from Travelers Insurance. To qualify for this free coverage, an ABA member bookstore must be a participant in LIBRIS.
“Identity Theft coverage for our ABA member constituents participating in LIBRIS is just the latest benefit to being part of the program,” said LIBRIS Managing Director Richard Poling. “We look forward to being able to continue to expand LIBRIS to meet the needs of independent booksellers.”
There are two main components to the LIBRIS Identity Theft coverage:
- Identity Fraud Expense Reimbursement, which pays for expenses incurred in dealing with an identity theft situation, including lost wages, attorney fees, and other expenses.
- Identity Theft Resolution Services, which provides assistance in documenting the identity theft, dealing with credit reporting agencies, and other items leading to a quicker resolution of the identity theft.
Other coverages apply. Full policy details are available from LIBRIS at (888) 694-8585 and at LIBRIS.org.