Benzinga | Dec 7, 2021 06:27AM EST

BOXX Insurance Partners With Equifax To Launch $1M ID Theft Coverage

* BOXX Insurance, a Toronto-based cyber insurer, has partnered with Equifax Inc. (NYSE:EFX) to launch $1 million Identity Theft Protection coverage amidst growing cyber safety concerns.

* The holiday season spends to grow between 8.5% -10.5% year-over-year, and e-commerce spends expected over $218 billion, spiking new concerns about cyber security.

* With 87% of consumers planning to shop online during the holiday season (13% more compared to 2020), concerns around cybersecurity and protection online have also escalated.

* The heightened concerns over online privacy, ID theft, and protection have led BOXX to enhance its online protection support with $1 million coverage for Identity Theft and Loss, supported by Equifax.

* Price Action: EFX shares closed lower by 0.12% at $282.15 on Monday.