The #1 Way Criminals Steal Your Identity

Computer crimes make headlines but thieves prefer low-tech, old-fashioned theft
HARTFORD, Conn.--(Business Wire)--
Identity fraud increased substantially in 2008, reversing a four-year trend of
decreasing incidents. Researchers say identity fraud increased by 22 percent
last year and they anticipate another 22 percent jump in 2009, attributing the
increases to crimes of opportunity driven by the economic downturn1. What`s
more, despite recent headlines and growing fears about online security and data
breaches, old-fashioned theft is the most popular way thieves steal identities
and perpetrate identity fraud.

According to 2008 claim data compiled by Travelers (NYSE: TRV), burglary and
theft of wallets, purses and personal computers provide thieves the best
opportunity to gain access to personal information. In instances where the
victim knew their identity had been stolen, it was the result of personal
property being stolen nearly 78 percent of the time. Travelers identifies the
following as the top known causes of identity fraud:

* 78% - burglary and theft of wallet/purse/personal identification/computer
* 14% - online or data breach
* 5% - change of address/postal fraud
* 3% - lost credit card and other miscellaneous causes

What do thieves do with the information once they have it? More than 75 percent
of the time, criminals use the information to open new credit card accounts or
use the existing credit cards to make charges. Twenty percent of identity
thieves will withdraw money from existing checking, savings and online accounts
and 16 percent open utility accounts in the victim`s name.

"Our data indicates that identity fraud can happen to anyone at any time.
Thieves don`t discriminate. They prefer crimes of opportunity," said Joe
Reynolds, Identity Fraud Product Manager, Travelers. "So, it really becomes a
matter of being vigilant and prepared in the event identity fraud happens to
you."

Reynolds recommends taking a proactive approach to protecting your identity, for
example, guarding social security numbers and financial information and
shredding documents like receipts, credit/insurance applications and bank
statements. Reynolds adds that Identity Fraud Expense Coverage with high-quality
resolution services offers another important layer of protection. "Restoring an
identity is time consuming, costly and requires expertise," said Reynolds.
"Travelers offers coverage that reduces victim`s burden by doing the work
required to resolve a stolen identity."

Travelers was the first insurer to offer insurance protection to identity fraud
victims. Coverage includes reimbursement for the costs associated with identity
restoration as well as providing the services required to restore an identity.

"Our dedicated identity fraud team assists victims when they need it most and
helps make sure all the required phone calls are made, the letters are written
and further preventative measures are put into place. Travelers will take the
necessary steps to get our customers` identities back into safe and secure
standing," said Reynolds.

Of all the calls Travelers receives, not all are actual identity fraud.
Sometimes it`s someone who has simply misplaced or lost their wallet. In those
instances, Travelers provides guidance on preventing fraud by advising customers
to do things such as cancelling credit cards, changing bank account information
and putting free fraud alerts on their credit.

The Identity Fraud Expense Coverage is available as an endorsement on a
Travelers homeowners policy for $25 annually and offers protection up to $25,000
with no deductible. Travelers also offers Identity Fraud Expense Coverage to
financial institutions and commercial entities as an employee, customer or
membership benefit.

About Travelers
The Travelers Companies, Inc. is a leading property casualty insurer selling
primarily through independent agents and brokers. Travelers understands that
life and business are inherently dynamic and that the best way to serve
customers is to deliver insurance in-synch with evolving risks. The company`s
diverse business lines offer its global customers a wide range of coverage in
the auto, home and business settings. A Fortune 100 company, Travelers has
33,000 employees and generated revenues of approximately $24 billion in 2008.
Travelers stock is traded on the New York Stock Exchange (NYSE: TRV) and is a
component of the Dow Jones Industrial Average. For more information on being
in-synch, visit www.travelers.com.

1. Javelin Strategy & Research

The Travelers Companies, Inc.
Media Contacts:
Sheila Trauernicht, 860-277-7461
Cell: 860-707-3907
or
Matt Bordonaro, 860-277-7014
Cell: 860-202-3034

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