The Tennessee Department of Commerce & Insurance (TDCI) is emphasizing the importance of consumer protection during Identity Theft Awareness Week, taking place from January 27 to January 31, 2025. The week serves as a reminder for Tennessee consumers to be vigilant against identity theft, which was ranked as the top complaint in the state according to the Federal Trade Commission’s 2023 Sentinel Report.
TDCI Commissioner Carter Lawrence highlighted the risks posed by identity thieves who exploit modern technology to target individuals’ credit and finances. Assistant Commissioner for Securities Elizabeth Bowling urged consumers to remain alert and adopt preventive measures against identity theft throughout the year.
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To assist in combating identity theft, TDCI’s Securities team suggests several strategies:
1. **Establishing a Trusted Contact**: It is recommended that senior financial investors provide their financial firms with a trusted contact, such as a family member or professional, who can confirm their contact information and other important details.
2. **Using a Credit Freeze**: A credit freeze is a free tool that restricts access to credit reports, making it harder for identity thieves to open new accounts. Tennessee law allows parents and guardians to freeze the credit of minors under 16 or incapacitated individuals at no charge.
3. **Avoiding Identity Theft Scams**: Consumers should be cautious about unsolicited offers for insurance policies or investments. TDCI advises shredding documents with personal information, monitoring financial statements, and using direct deposit for benefit checks. Personal details should never be shared over the phone unless the call was initiated by the consumer.
For any questions regarding investments or to report suspicious activities, Tennessee consumers can contact TDCI’s Securities team at (615) 741-2947 or 800-863-9117, or email them at securities.1@tn.gov. More information on Identity Theft Awareness Week can be found on the FTC’s website.
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Tennessee Workers’ Comp Rates to Decrease in 2025
The Tennessee Department of Commerce and Insurance has announced a 3.6% decrease in workers’ compensation insurance premiums for 2025, marking the 12th consecutive year of rate reductions. Governor Bill Lee highlighted the benefits for business owners, while Commissioner Carter Lawrence attributed the decrease to safer workplaces and fewer injuries. The rate change will take effect on March 1, 2025.