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It's Not You, It's Me

What would happen to your business if someone stole your identity?

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This story appears in the June 2005 issue of Entrepreneur. Subscribe »

A sole proprietorship, a partnership or even a closely held corporation is usually very dependent on its owner's personal credit rating. If your credit rating is damaged, even temporarily, the impact on your company could be devastating. What's more, identity-theft victims can spend hundreds of hours getting their records cleared up--hours that should be spent working on their businesses.

One solution is identity-recovery insurance, says Rick Boettner, property and casu-alty underwriting manager with Capitol Insurance Companies in Madison, Wisconsin. The coverage is relatively new and varies by carrier, but typically, the insurer works to clear the victim's credit history and reimburse costs incurred to resolve problems resulting from identity theft.

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