FTC Ruling Provides Colorado Residents Opportunity to Receive Free Cre

FTC Ruling Provides Colorado Residents Opportunity to Receive Free Credit Reports; Allstate Offers Product to Assist Victims of Identity Theft

    Business Editors

    DENVER--(BUSINESS WIRE)--Feb. 7, 2005--As part of the Fair and Accurate Credit Transactions Act (FACTA) and the Fair Credit Reporting Act (FCRA), Colorado residents now have the opportunity to receive their credit report for free regardless of whether there is any activity on your credit report. In December of 2003, the Federal Trade Commission amended the FCRA act and requires the three consumer credit reporting agencies, Equifax, Experian and Trans Union, to provide consumers, upon request, a free copy of their credit report once every 12 months.
    One major advantage of receiving a credit report annually is the ability for consumers to monitor whether they have been a victim of identity theft. In 2003, Americans spent more than 300 million hours trying to resolve problems caused by identity theft.
    In an effort to continue to find ways to protect its customers, Allstate Insurance Company began offering a new identity theft coverage product this week. This identity theft product can help reduce the time identity theft victims spend trying to recover their lives.
    In a first of its kind move for insurance companies, Allstate has partnered with a professional firm that specializes in addressing and correcting the effects of identity theft, giving Allstate customers with identity theft coverage direct access to this expertise.
    "When a person's identity is stolen, they normally do not know what steps to take to resolve the situation," said Jeff Kaufman, Field Vice President for the West Central Region of Allstate Insurance Company. "By partnering with a professional firm that specializes in I.D. theft, Allstate believes that this will ease the burden that our customers face if they have this coverage and become the unfortunate victim of identity theft."
    Allstate's identity theft expenses coverage is available for new Allstate homeowners, renters, and condo insurance policyholders for approximately $40 a year and provides customers access to professional identity restoration assistance. Allstate's policy provides up to $25,000 per policy period in reimbursement coverage for expenses incurred to restore identity, including attorney fees, loan reapplication fees, credit report fees, and lost wages.

    Not an Easy Task

    What does identity restoration assistance do for victims? According to Federal Trade Commission data, only 13 percent (13%) of identity theft victims contact credit agencies after learning their personal information has been misused. Many victims of identity theft don't know where or how to start the recovery process. Here is some of what identity restoration professionals can do for victims of I.D. theft:

--	Help victims understand their rights.
--	File paperwork, including police reports.
--	Issue fraud alerts to credit reporting agencies, Social Security Administration, Federal Trade Commission, U.S. Post Office, credit card companies, and banks.
--	Work with credit agencies to correct and restore your credit.
--	Review credit histories for irregularities.
--	Trace Social Security numbers, notifying and working with the Department of Motor Vehicles, collection agencies, creditors and law enforcement personnel.

    Be Proactive

    Allstate's identity theft expenses coverage helps victims of I.D. theft recover their lives, but it is still up to every individual to protect themselves from criminals that may be looking to steal their identity. The following seven tips can help make you less vulnerable to identity theft:

    -- Don't carry unneeded credit cards.

    -- Cancel all your unused, lost, or stolen credit card accounts
    immediately.

    -- Keep your Social Security card, birth certificate, and other
    personal documents in a secure lock box or safety deposit box.
    Don't carry them, or duplicates, in your wallet.

    -- Check your credit history periodically and report any
    unauthorized activity. (There may be a minimal fee to obtain a
    copy of your credit report.)

    -- Keep careful track of all receipts. Store them in a safe place
    or destroy them before putting them in the trash.

    -- Do not give out your social security number to any person or
    company unless you are familiar with them and you have
    initiated the conversation.

    -- Never provide information to someone calling you on the phone
    or initiating contact on the Internet.

    The Allstate Corporation (NYSE:ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate(R)" slogan, Allstate helps individuals in more than 16 million households protect what they have today and better prepare for tomorrow through more than 12,900 exclusive agencies and financial specialists in the U.S. and Canada. Customers can access Allstate products and services through Allstate agencies, or in select states at allstate.com and 1-800 Allstate(R). Encompass(SM) and Deerbrook(R) Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group provides life insurance, annuity, retirement, banking and investment products through distribution channels that include Allstate agencies, independent agencies, worksite, financial institutions and broker-dealers.

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CONTACT: Allstate Insurance Company Emily Pukala, 303-779-3774

KEYWORD: COLORADO INDUSTRY KEYWORD: INSURANCE CONSUMER/HOUSEHOLD PRODUCT SOURCE: Allstate Insurance Company

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