News Room

September 15, 2008

Assurant Specialty Property Partners with National ID Recovery to Bring Financial Institutions into Compliance with Red Flag ID Theft Legislation

ATLANTA: Assurant Specialty Property and National ID Recovery (NIDR) have launched a Red Flag ID fraud detection, notification and protection program for financial institutions and credit unions. Red Flag ID Fraud Solutions is a collaborative identity theft solution created in response to the need for all financial institutions to comply with the FACTA Identity Theft Red Flag Rules by Nov. 1, 2008.

Assurant Specialty Property, part of Assurant, Inc. (NYSE: AIZ), is a leading provider of specialty insurance and collateral protection programs. NIDR is a leading provider of identity theft solutions to consumers and one of the fastest growing identity theft recovery companies in the nation.

Dawn Lamnin, vice president, Direct Marketed Products, for Assurant Specialty Property, said that Red Flag ID Fraud Solutions Program meets or exceeds all of the new federal requirements. "When combined with a financial institution's internal fraud detection systems, customers are afforded the very best protection and upgrades available. Not only is our program the most comprehensive program available, it is priced at the lowest possible cost to the financial institution or creditor. It also provides customers the option to take advantage of additional benefits such as family identity theft monitoring, preventive identity theft software, legal services, tax services, and many other identity and credit protection tools."

Red Flag ID Fraud Solutions provides financial institutions the added benefit of data breach resolution services with no annual retainer fee. If a financial institution experiences a direct breach of data information, the program provides regulatory consulting, breach notifications to customers, a dedicated 800 line and call center support, and resolution and recovery service for all affected customers at the lowest cost per breached victim in the nation.

Section 114 and 315 of the FACTA (Fair and Accurate Credit Transactions Act of 2003), also known as the Red Flag Rules, require that all financial institutions, and creditors that hold any customer transaction accounts, offer basic, complimentary identity theft protection to all new and existing account holders within their portfolios. Affected institutions must provide for the identification, detection and response to "red flags" that could indicate identity theft.

Effective Jan. 1, 2008, The Federal Trade Commission (FTC), federal bank regulatory agencies, and the National Credit Union Administration (NCUA) and FACTA mandate that all financial institutions and creditors be Red Flag Rules compliant by Nov. 1, 2008.

To learn more about Red Flag ID Fraud Solutions, please visit www.assurantredflag.com, or call 1.800.859.8231 to speak to a representative. Additional information on the Red Flag legislation can be found at the FTC's Web site at www.ftc.gov/bcp/edu/pubs/business/alerts/alt050.shtm.

About Assurant Specialty Property

Assurant Specialty Property businesses are leading providers of creditor-placed homeowners insurance, direct-marketed products, collateral protection programs and related outsourcing services. They develop, underwrite, market and administer specialty property and personal lines of insurance through collaborative relationships with leading home mortgage companies, financial institutions, manufactured home builders and dealers, auto finance companies, property management companies and managing general agents. Assurant Specialty Property serves clients and their customers in all 50 states and the District of Columbia. www.assurantspecialtyproperty.com

Assurant Specialty Property is part of Assurant, a premier provider of specialized insurance products and related services in North America and selected international markets. Assurant, a Fortune 500 company and part of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has over $26 billion in assets and $8 billion in annual revenue. www.assurant.com

About National ID Recovery, LLC (NIDR)

National ID Recovery, LLC (NIDR) is a Georgia Corporation, founded in April 2004 and managed by a team of seasoned veterans with experience in security, information technology, communications, sales, management and compliance. NIDR is dedicated to providing the most efficient, reliable, low cost and easy-to-use ID recovery service in the marketplace. NIDR's automated ID theft recovery system, backed by highly trained paralegals, allows NIDR to clear over 48 known types of identity theft with a 100 percent recovery rate. www.nationalidrecovery.com

Media Contact

James A. Sykes
Director, External Communications
Tel. 770.763.1015
Email james.sykes@assurant.com