MicroBilt Corporation today announced an agreement with AIG Affinity Group Services, a division of the property and casualty insurance subsidiaries of American International Group, Inc. (AIG), to provide comprehensive Personal Internet and Identity Theft insurance coverage to MicroBilt's customers.
Identity theft and fraud are among the Nation's fastest growing crimes. More than 27 million Americans have had some part of their identity stolen in the past five years, according to the Federal Trade Commission. Identity thieves can steal the victim's financial identity by running up fraudulent credit card bills. Restoring one's name and good credit is a time-consuming and expensive process that may require months or even years.
In response to the growing frequency of identity theft, MicroBilt is launching a suite of Identity and Credit Protection Packages, which will help consumers avoid becoming victims of identity theft and, if necessary, restore and mitigate the effects of identity theft. Included in each of the MicroBilt Packages will be identity theft insurance covering up to $25,000 in identity restoration costs, legal defense expenses and lost wages.
MicroBilt will offer its Protection Packages as group programs to credit unions, banks, financial intermediaries and dealers to complement the products and services afforded to their customers/members. Each MicroBilt Protection Package includes materials to alert individuals to the threat of identity theft, provides information on how to avoid becoming a victim, and protects against the loss of time and money associated with identity restoration.
"Identity theft continues to be a growing concern for many Americans," says Nancy Callahan, Vice President of AIG Affinity Group Services. "The time, cost and frustration involved in restoring one's good name creates a significant burden for the victim of this crime. Identity theft insurance is one element in the consumer's line of defense against the damage caused by identity theft."
"MicroBilt views this product offering as a way to be proactive in combating the rise in identity theft crime to a market that already knows MicroBilt as a leader in providing secure credit related products," states Ken Hill, President of MicroBilt Corporation.
National rollout of MicroBilt Identity Theft and Credit Protection Packages will commence in June 2005.
About AIG Affinity Group Services
AIG Affinity Group Services, a division of the property and casualty subsidiaries of American International Group, Inc. (NYSE: AIG), customizes distribution programs for AIG member companies and corporate clients. AIG is the world's leading international insurance and financial services organization, with operations in approximately 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer.
About MicroBilt Corporation
MicroBilt, a division of Bristol Investments, Ltd., is the leader in credit bureau data access and retrieval, providing credit, collection and data sources. MicroBilt is certified through and provides interfaces with the three consumer bureaus, Equifax (NYSE: EFX), Experian (London Stock Exchange: GUS) and Trans Union and the two commercial bureaus, D&B and Experian Business as well as eFunds Corporation (NYSE: EFD) and Choicepoint (NYSE: CPS). This data access is available via the Internet at creditcommander.microbilt.com, a systems integration tool kit, dedicated terminals and dial-up software. The company also enables web sites to enhance their content offerings by delivering a CreditCommander.com private label site to their established online communities. Private company information along with knowledge-based analytical tools and information services is available through Integra Information, a division of MicroBilt. MicroBilt maintains offices in Georgia and New Jersey. For more information, visit www.MicroBilt.com or call 1-800-884-4747.
*Insurance is underwritten by member companies of American International Group, Inc., and is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage is not available in all states. Non-insurance products may be provided through independent third parties.