Protecting your Assets from the 21st Century Intruder

Sensational news reports are heightening awareness for the risk of home invasions. The U.S. experienced more than 1.4 million home invasions in 2008, which was approximately an 8% increase over the prior period, according to the Federal Bureau of Investigations.

“Depending on what you're driving, the clothes you're wearing and where you live, you may be more of a target than you were five years ago,” Peter Spicer, a vice president at the Chubb Group, told Crain’s New York Business. Chubb has responded with specific insurance programs and protections. For instance, in the State of New York, Chubb is covering home invasions and other traumatic events for an annual premium of $110, addressing property losses, security upgrades, ransoms and psychiatric counseling.

Many people think because they aren’t celebrities and don’t engage in risky behaviors, such as gambling and other excessive conduct, they are somehow not identity theft targets. These same people, however, often draw attention unknowingly to themselves through their wealth profiles.

“Simply making an impressive purchase or donation could put someone on a thief’s radar,” Paul Viollis, chief executive of Risk Control Strategies, says. “If you purchase online, make donations, serve on any boards or have a family office, you must be extremely careful with your personal information.”

The biggest dollars are pouring into security systems. Viollis, a Ph.D and former law enforcement agent who serves as Chubb’s personal security consultant, reports that the security systems part of his business has increased 700% in the past three years.

However, Viollis counters, domestic staff and other windows for identity theft can be just as intrusive as a home break-in: "Today, I don't even have to break into your house; I just break into your life."

The security expert points out that fully 80% of identity theft originates “within the circle,” or in other words through acquaintances, servants or business associates, who are possible sources of identity theft. He advocates background checks on all domestic staff, employees and contractors before hiring.

Viollis notes that one need not significantly alter his or her lifestyle to protect against identity theft. “Securing your family’s communication through an encrypted server and running all calls through a Security Operation Center can mitigate the possibilities of identity theft and, once in place, these provisions are hardly noticeable,” he says.

Chubb recommends that victims of identity theft report incidents immediately to the police, call the three national credit reporting organizations—Equifax, Experian and TransUnion—and contact the Social Security Administration and the Federal Credit Reporting Agency.

“That may sound obvious, but you’d be surprised how many people don’t report identity theft because they feel violated, embarrassed and humiliated,” says Viollis. “But this is the 21st century, and thieves today are sophisticated 21st century thieves. They are pros. And we have to behave professionally if we are to fight them off.”

To learn more, Oswald Companies and Chubb Insurance are hosting a breakfast seminar featuring:

Protecting you, your family and your Assets from the 21st Century Intruder
Dr. Paul Viollis, CEO of Risk Control Strategies

Tues., April 21, 2009
Continental Breakfast
7:30 – 9 a.m.

Shoreby Club
40 Shoreby Drive
Bratenahl, OH 44108

*Seating is limited

RSVP, please Click HERE

Questions? Please contact:
Rochelle Sevchek
(216) 367-3288
rsevchek@oswaldcompanies.com