HSB, a part of Munich Re, has extended Identity Recovery Coverage for business employees to family members and other groups, including membership associations, university students and alumni.

The coverage, which offers identity theft insurance and related services, has also been expanded to combine expense reimbursement with additional identity theft detection services.

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These services are aimed at monitoring personal identity records and to help individuals in the event of identity theft.

HSBsenior vice president David Mercier said: “Identity thieves are always finding new ways to steal personal data and exploit that information.

“It’s a crime that’s not going away. So, it’s important for insurance coverage to stay ahead of changing risks.”

The new HSB Identity Recovery Coverage offers identity recovery helpline operated by dedicated counsellors.

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The coverage also includes case management services to guide the victim through the process of restoring their identity.

Additionally, the company is also providing expense reimbursement for out-of-pocket costs, legal fees and other financial charges.

To help customers spot signs of identity theft, HSB has also introduced optional monitoring services provided by Kroll. This includes including access to credit monitoring, dark web monitoring and other monitoring capabilities.

According to a recent survey by the company, 23% of individuals have had their personal identity stolen.

Identity theft victims need help to regain control of their identity and credit standing. People can spend months, even years, and thousands of dollars dealing with identity theft and fraud, the company noted.

HSB is currently offering identity recovery coverage in 47 US states with regulatory approvals expected throughout the country in the coming months.