Westland Insurance launches guide on identity theft, partners with cyber insurance provider

As identity theft continues to grow as a concern for Canadians, Westland Insurance is intensifying its efforts to help individuals protect themselves.

The brokerage has released a guide titled Understanding and Preventing Identity Theft, offering practical advice to help consumers safeguard their personal information. It has also partnered with BOXX Insurance to offer premium cyber insurance, which includes identity theft protection, data breach coverage, and safeguards against cyberstalking, cyber-attacks, and other online threats.

The guide includes insights on spotting the signs of identity theft and offers a clear roadmap on what to do if an individual’s identity is compromised, including steps to report the issue to authorities and contact credit bureaus.

Types of identity theft

Identity theft can take various forms, each with its own set of risks and consequences:

• Financial identity theft – This is the most common form of identity theft, where criminals use personal information such as credit card details or social security numbers to make unauthorized transactions. The impact can include drained bank accounts, damaged credit scores, and accumulating debt.
• Social security identity theft – This type of theft is less obvious but just as damaging. Criminals can use an individual’s social security number to commit fraud, such as opening new credit accounts or filing false tax returns. The consequences often go unnoticed until significant damage has been done.
• Medical identity theft – In this form of theft, criminals use a person’s personal details to access medical services, obtain prescription drugs, or submit false insurance claims. This can lead to inaccurate medical records and denied health insurance coverage when it’s needed most.

According to Westland’s report, identity theft is no longer just a concern for a few; it is a growing menace that threatens individuals and families across the globe. As more personal information is digitized and shared online, consumers are becoming increasingly vulnerable to financial fraud, medical identity theft, and other forms of identity-related crimes.

Among the measures recommended to safeguard their identity is investing in personal cyber insurance. Westland’s partnership with BOXX Insurance is designed to mitigate the financial impact of identity theft, offering features like credit monitoring and identity restoration services.

“Cyber insurance can help monitor your identity and detect any suspicious activity, help safeguard your information online and even protect your family from online threats,” the report noted.

Westland Insurance Group is one of Canada’s largest independent insurance brokers, with more than $3.5 billion in premium trading. Since its founding in 1980, it has provided expertise in commercial, personal, employee benefits, farm, and specialty insurance segments.

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