Experian files a lawsuit against Lifelock. Hmmmmm – why?
I have seen too many incidents of identity theft on TV that warrants me to become worried. I normally trust the safety of the internet (using proper precautions of course), and usually not worried about identity theft because I believe I have enough tools to let me know that fraud is being committed under my name or social security number if ever.
Recently however, I read about Experian’s (one of the Big Three Credit Bureaus) filing suit against lifelock, which is an identity theft prevention company that has taken a slice of Experian’s profits due to the fact that the company has proven that they have the right tools to alert consumers whenever fraud is committed against them. Identity theft has become a major problem and you can lose your identity in an instant if you are not careful. Lifelock provides that safety net and creates alerts that would necessitate credit bureaus such as Experian to verify the identity of the applicant further than they have to just to insure that the application is not one of an identity thief. This is what Experian is upset about. The extra step they have to perform in order to make certain your presented identity is valid and that you are who you say you are.
How can you not believe that lifelock is succeeding when the offer a One Million Dollar protection? Here’s what their website said:
Our $1 Million Service Guarantee
Our service guarantee is simple, but it is limited. We will pay up to $1,000,000 to cure the failure or defect in our service, per member, per lifetime for all incidents in the aggregate, regardless of circumstance (*In North Carolina, we will make payments to professionals we choose). We will not reimburse special, incidental, indirect or consequential damages, such as lost wages or profits, loss of business, or lost opportunities. Other than our service guarantee, we make no representation or warranty about our service of any kind, and we disclaim any implied warranties outside of our service guarantee, such as a warranty of merchantability or fitness of our service for any particular purpose.
Now, Experian – take that!
