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Iphone 5 reused?

Primetime

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I was just wondering if I lose my iPhone 5, and I get it replaced with another iphone5 through my carrier.. If someone found my iPhone 5 and had the same carrier can they activate that iPhone 5 on their account and use it freely? I suppose I wouldn't care at that point since I'd already have my new iphone 5 replacement. I was just wondering...
 
Yep, hook is spot on. Wireless providers will add the IEMI # of a lost or stolen iDevice to a universal "Blacklist" that all providers look at when activating a used device to their network.
 
That was one method that people used to take advantage of insurance. Doesn't work :p not Ben if you unlock it and use it in a different country even.
 
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