ATLANTA, Sept. 15 GA-Assurant-partners
ATLANTA, Sept. 15 /PRNewswire-FirstCall/ -- Assurant Specialty Property
and National ID Recovery (NIDR) have launched a Red Flag ID fraud detection,
notification and protection program for financial institutions and credit
unions. Red Flag ID Fraud Solutions is a collaborative identity theft
solution created in response to the need for all financial institutions to
comply with the FACTA Identity Theft Red Flag Rules by Nov. 1, 2008.
Assurant Specialty Property, part of Assurant, Inc. (NYSE: AIZ), is a
leading provider of specialty insurance and collateral protection programs.
NIDR is a leading provider of identity theft solutions to consumers and one of
the fastest growing identity theft recovery companies in the nation.
Dawn Lamnin, vice president, Direct Marketed Products, for Assurant
Specialty Property, said that Red Flag ID Fraud Solutions Program meets or
exceeds all of the new federal requirements. "When combined with a financial
institution's internal fraud detection systems, customers are afforded the
very best protection and upgrades available. Not only is our program the most
comprehensive program available, it is priced at the lowest possible cost to
the financial institution or creditor. It also provides customers the option
to take advantage of additional benefits such as family identity theft
monitoring, preventive identity theft software, legal services, tax services,
and many other identity and credit protection tools."
Red Flag ID Fraud Solutions provides financial institutions the added
benefit of data breach resolution services with no annual retainer fee. If a
financial institution experiences a direct breach of data information, the
program provides regulatory consulting, breach notifications to customers, a
dedicated 800 line and call center support, and resolution and recovery
service for all affected customers at the lowest cost per breached victim in
the nation.
Section 114 and 315 of the FACTA (Fair and Accurate Credit Transactions
Act of 2003), also known as the Red Flag Rules, require that all financial
institutions, and creditors that hold any customer transaction accounts, offer
basic, complimentary identity theft protection to all new and existing account
holders within their portfolios. Affected institutions must provide for the
identification, detection and response to "red flags" that could indicate
identity theft.
Effective Jan. 1, 2008, The Federal Trade Commission (FTC), federal bank
regulatory agencies, and the National Credit Union Administration (NCUA) and
FACTA mandate that all financial institutions and creditors be Red Flag Rules
compliant by Nov. 1, 2008.
To learn more about Red Flag ID Fraud Solutions, please visit
http://www.assurantredflag.com , or call 1.800.859.8231 to speak to a
representative. Additional information on the Red Flag legislation can be
found at the FTC's Web site at
http://www.ftc.gov/bcp/edu/pubs/business/alerts/alt050.shtm .
About Assurant Specialty Property
Assurant Specialty Property businesses are leading providers of
creditor-placed homeowners insurance, direct-marketed products, collateral
protection programs and related outsourcing services. They develop,
underwrite, market and administer specialty property and personal lines of
insurance through collaborative relationships with leading home mortgage
companies, financial institutions, manufactured home builders and dealers,
auto finance companies, property management companies and managing general
agents. Assurant Specialty Property serves clients and their customers in all
50 states and the District of Columbia.
http://www.assurantspecialtyproperty.com .
Assurant Specialty Property is part of Assurant, a premier provider of
specialized insurance products and related services in North America and
selected international markets. Assurant, a Fortune 500 company and part of
the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ.
Assurant has over $26 billion in assets and $8 billion in annual revenue.
http://www.assurant.com /
About National ID Recovery, LLC (NIDR)
National ID Recovery, LLC (NIDR) is a Georgia Corporation, founded in
April 2004 and managed by a team of seasoned veterans with experience in
security, information technology, communications, sales, management and
compliance. NIDR is dedicated to providing the most efficient, reliable, low
cost and easy-to-use ID recovery service in the marketplace. NIDR's automated
ID theft recovery system, backed by highly trained paralegals, allows NIDR to
clear over 48 known types of identity theft with a 100 percent recovery rate.
http://www.nationalidrecovery.com .
Contact:
James Sykes
770-763-1015
james.sykes@assurant.com
SOURCE Assurant Specialty Property
