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Lifelock was just doing their job (they thought). Also they offer insurance of up to $1M for damages as a result of ID theft. As far as ID theft continues to be

Lifelock was just doing their job (they thought). Also they offer insurance of up to $1M for damages as a result of ID theft. As far as ID theft continues to be pervasive we need companies like LL.

dnm 10y ago
What does that $1M actually cover though? “But if someone takes out a mortgage in your name and now you owe the bank $100k or more – nobody covers that, and that’s what they need to cover.” http://krebsonsecurity.com/2014/03/are-credit-monitoring-services-worth-it/ http://krebsonsecurity.com/2014/03/are-credit-monitoring-ser...
- ccvannorman 10y ago
  Usually the banks take responsibility for that as it's their duty to do due diligence (say that six times fast!). I've had my credit card # stolen plenty of times and never been liable. LifeLock's insurance covers court/lawyer fees/damages, IIRC.
billmalarky 10y ago
I'm starting to think Lifelock would be a better product for consumers if they completely avoided the protection side of the business and just beefed up the insurance side of the business.
maxerickson 10y ago
So why not require the credit bureaus to spend $1 million when they fail to do what they say they do! It's called identity theft, but that's just a successful marketing campaign by the lazy banks and credit bureaus. It's fraud, and they (try to) push the consequences off on a party that is not really able to prevent it from happening. We should just tell them they aren't allowed to do that. Then we don't need Lifelock anymore.
bogomipz 10y ago
Does lifelock actually work though? What can they possibly due to keep your data safe? If there is a breach at one of the big three credit reporting agencies and your data is accessed how doe Lifelock help you? They remind of the same sham commercial there used to be for agencies that "helped you repair your bad credit" which also was and still isn't possible.

Lifelock was just doing their job (they thought). Also they offer insurance of up to $1M for damages as a result of ID theft. As far as ID theft continues to be pervasive we need companies like LL.

dnm 10y ago

What does that $1M actually cover though? “But if someone takes out a mortgage in your name and now you owe the bank $100k or more – nobody covers that, and that’s what they need to cover.” http://krebsonsecurity.com/2014/03/are-credit-monitoring-services-worth-it/ http://krebsonsecurity.com/2014/03/are-credit-monitoring-ser...

ccvannorman 10y ago
Usually the banks take responsibility for that as it's their duty to do due diligence (say that six times fast!). I've had my credit card # stolen plenty of times and never been liable. LifeLock's insurance covers court/lawyer fees/damages, IIRC.

billmalarky 10y ago

I'm starting to think Lifelock would be a better product for consumers if they completely avoided the protection side of the business and just beefed up the insurance side of the business.

maxerickson 10y ago

So why not require the credit bureaus to spend $1 million when they fail to do what they say they do! It's called identity theft, but that's just a successful marketing campaign by the lazy banks and credit bureaus. It's fraud, and they (try to) push the consequences off on a party that is not really able to prevent it from happening. We should just tell them they aren't allowed to do that. Then we don't need Lifelock anymore.

bogomipz 10y ago

Does lifelock actually work though? What can they possibly due to keep your data safe? If there is a breach at one of the big three credit reporting agencies and your data is accessed how doe Lifelock help you? They remind of the same sham commercial there used to be for agencies that "helped you repair your bad credit" which also was and still isn't possible.