Travelers has updated its Identity Fraud product to offer more protection against the most frequent problems identity fraud victims experience. The enhanced Identity Fraud product from Travelers now covers the following expenses for possible reimbursement*:
- Expenses related to medical identity fraud which includes costs for obtaining copies of health records, attorney’s fees for the release of medical records, and phone and mail charges to healthcare providers,
- Expanded attorney’s fees for tax- and employment-related identity fraud,
- Travel expenses up to $1,000 a week for up to 5 weeks when victims are required to travel to the jurisdiction in which the identity fraud took place to file in-person loss affidavits with local law enforcement and/or judicial authorities or testify against perpetrators of fraud, and
- Expenses and fees associated with acquiring new government-issued identification, including passports, commercial and non-commercial driver’s licenses, and state and federal personal identification cards if they were compromised.
In addition, the upgraded Identity Fraud product offers an extension to the amount of time an identity fraud incident can be reported and still qualify for expense reimbursement, as well as an enhancement of covered attorney’s fees to include contesting the wrongful transfer of ownership of personal property and wrongfully incurred tax liabilities solely as a result of identity fraud. All of the coverage updates will be available to both business and personal insurance customers.
Insurance protection for identity fraud from Travelers provides customers with access to a consumer fraud specialist, who can guide victims through the process of restoring their identity. Coverage includes reimbursement for the costs associated with identity restoration as well as providing the services required to help victims restore an identity.
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*Identity Fraud Expense Reimbursement Coverage is available as an endorsement on a Travelers homeowners, renters or condo policy for $25 annually and offers protection up to $25,000 per insured person with no deductible. Travelers also offers Identity Fraud Expense Reimbursement Coverage to financial institutions and commercial entities as an employee, customer or membership benefit.
Source: Travelers