What should be done about identity theft?

Identity theft should become a national concern because it may happen to any random person and it is increasingly becoming a bigger problem as a lot of people are losing a lot of possesions and money.Thus people have set up identity theft protection insurances. It is now being used as a type of new insurance in many countries especialy in da US, which claims to protect you from costs associated with identity theft even though they may not be able to reimburse your lost goods. Bearing in mind that other organisations such as bank are also failing to protect identity theft,so should a person buy identity theft protection?