Identity Thieves Are Trying to Loot Annuities

Officials at the Nebraska Department of Insurance say they see the identity theft crisis starting to affect the annuity sector.

The Nebraska department put out a consumer alert in July, after it heard of malefactors making “numerous attempts” to get into annuity contracts owned by Nebraska residents. 

(Related: Cybersecurity Still Top Compliance Concern for Advisors: Poll)

Since then, the department “has learned that several of these attempts have been made on policies held by individuals across the country,” officials say.

The attacks involved had the annuity contract numbers as well as the holders’ Social Security numbers and dates of birth.

Insurers and insurance regulators have worked to improve data security in recent months.