IRVINE, Calif.--(BUSINESS WIRE)--SubscriberWise®, the nation's largest issuing CRA for the communications industry and the leading protector of children victimized by identity fraud, announced today important advice and consumer empowerment from company founder and U.S. Credit Czar David E. Howe. The global FICO panjandrum and credit baron is encouraging consumers to become aware of the United States federal FACT Act.
According to the Credit Czar, the FACTA entitles a consumer to obtain one free copy of her/his consumer file from certain consumer reporting agencies during each 12-month period. Included in the FACTA is the right to access consumer reports that involve personal property and auto histories that impact an individual’s rates and access to insurance products.
"Next year - before my automobile insurance renewal period - I plan to rate shop to determine if there's a more competitive price for my personal insurance requirement," acknowledged David Howe, founder and CEO of SubscriberWise and America’s child identity guardian. "And just like I've done with my personal credit and FICO scores over the past couple of decades, I keep tabs on another personal report that impacts my financial life."
"The personal report that I obtain and carefully review is called a C.L.U.E. report,” Howe continued. “C.L.U.E. is an acronym for Comprehensive Loss Underwriting Exchange. It’s similar to a consumer credit report. Fortunately, it's federally regulated for our protection like consumer credit reports. The CLUE report is a claims history database generated by a company called LexisNexis. (https://www.lexisnexis.com/en-us/home.page). The report is accessed by insurance companies to retrieve any claims information during underwriting or for reviewing an insurance policy.
"According to LexisNexis, The C.L.U.E. Personal Property report provides a seven year history of losses associated with an individual’s personal property. The C.L.U.E. Auto report provides a seven year history of automobile insurance losses associated with an individual," Czar Howe added.
“Today I recommend that every consumer obtain her/his report on a regular basis, but particularly before shopping for insurance or if renewal rates change unfavorably and unexpectedly. (https://personalreports.lexisnexis.com/fact_act_disclosure.jsp).
“Moreover, following the massive data breach at Equifax involving the compromise of extremely sensitive personal information, I recommend consumers generally become more familiar with personal and consumer reports while also learning how to better protect themselves.
Related: Equifax Massive Data Breach: FICO World Master Champion and U.S. Credit Czar David Howe Responds
"Consumers who have not filed any claims against their auto or property insurance companies in the last 7 years, they should have no entries on the report. Any entries that are present, they should be reviewed for accuracy and disputed and removed if not accurate," Czar Howe concluded.
Get a C.L.U.E.: https://personalreports.lexisnexis.com/fact_act_disclosure.jsp
SubscriberWise® launched as the first issuing consumer reporting agency exclusively for the cable industry in 2006. Today SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative.
SubscriberWise contributions to the communications industry are quantified in the billions of dollars annually.
SubscriberWise is a U.S.A. federally registered trademark of the SubscriberWise Limited Liability Co.