What happens when consumers don't have access to LPI's

The devastation and permanent marks are seen these news clips

ID Shield General Overview 1:19

Highlights of Kroll Fraud Solutions with ID Shield


ID Theft Can Seem Overwhelming

The proper coverage can shrink the tallest obstacles

2018 Stats from HRCI and SHRM CE Credit Training – Sources included in full training and certification

Take the full one hour class here https://hr.harvardbenefits.com/290998

  • ID Theft was the #1 consumer and employee complaint in 2018.
  • 16.7 million consumers reported being victims of ID Theft compared to 250,000 in 2013 – over 6000% increase.
  • An average of 45,000 people per day called the FTC to report their ID’s being stolen.
  • Financial loss in 2018 estimated at 18 billion dollars, more than the loss of all other property crimes combined.
  • Consumers are 30x more likely to have their ID stolen than their house or car broken into.
  • Over 10 Billion sensitive records have been compromised since 2005.
  • Financial losses are less damaging than time losses with an average of 200-600 hours to restore identity.
  • Employee absenteeism with unscheduled time off was $3600 per employee per year for hourly workers.
  • Employee absenteeism with unscheduled time off was $2650 per employee per year for salaried workers.
  • 22% of employees affected by ID Theft took time off of work to try and resolve the problem.
  • Presenteeism defined as lack of focus, mistakes, arguments, poor work skills, and interpersonal HR issues.
  • 75% of ID Theft victims reported severe distress and problems with Presenteeism.
  • 66% of victims reported high anxiety and fear of financial security.
  • 53% felt a sense of powerlessness and helplessness.
  • 7% reported feeling suicidal.
  • Presenteeism accounts for 61% of an employee’s total lost productivity and medical costs.
  • Cornell University in a special report estimated Presenteeism to be more than 7x costlier to employers than absenteeism.
  • According to a compilation of various studies Presenteeism is estimated to cost employers 150-250 billion per year.
  • 62% of ID Theft victims reported warrants were issued for their arrest.
  • Sexual offenders are the most likely group to use stolen ID’s and plant a stigma of guilt on employees.

BLR Business and Legal Resources...Special report Top 10 Best Practices in Hr management

One solution that provides an affirmative defense against potential fines, fees, and lawsuits, is to offer some sort of identity theft protection as an employee benefit…have a mandatory employee meeting on identity theft, and the protection you are making available, similar to what most employers do for health insurance’. 

Top Reasons to Offer ID Theft Benefit

  • The average victim can spend 100s of hours in trying to fix the problem
  • Many employees use their time at work to fix the problem
  • Automatic early warning system of internal breaches or targeted breaches with email phishing

SHRM published an article and said the following...

"the biggest reasons to offer ID Theft benefits are lost productivity and employee stress, which in turn add to medical costs". 

"The longer an employee does not realize his or her identity has been stolen, the worse the damage becomes".

"It could take 100s of hours to resolve...it's far better if identity theft if found early in the process, and that's the goal of a good identity theft protection program".

The Case for Legal and ID Theft Benefits