Why NADA Identity Theft Protection Insurance?
Identity Theft Protection will not pay the fines mentioned above nor help you become “Red Flag” compliant; the identity theft insurance policy offers coverage to Dealers when their data is compromised resulting from identity theft. Whether the identity theft is the consequence of negligence occurring at the dealership, sophisticated identity thieves hacking into dealer DMS systems, dumpster diving, or scanning the transaction codes off customer credit cards, the policy offers exceptional coverage to businesses and individuals for the following: • Legal liability damages • Defense costs • Regulatory action expense • Notification costs • Crisis expenses • Identity theft recovery services for victims such as education, assistance and credit monitoring Even if you are “Red Flag” compliant, customers can take civil action if their personal information is compromised through your dealership. If you are not “Red Flag” compliant at the time of the loss, you are at serious risk. Civil liability
