Identity Fraud
Just as individuals can be victims of identity fraud, businesses too can have credit and financial information stolen, which could have a negative impact on cash flow or the business's credit standing. Even a temporary disruption could have a serious impact.
Imagine a manufacturer unable to purchase materials because of a question about the company's credit worthiness. Then imagine the ripple effects: production and shipments halted, sales suspended — perhaps opening the door for a competitor to step in — workforce lay-offs, a business in turmoil.
Travelers Canada Identity Fraud insurance covers costs incurred as a result of identity theft and enables you and your employees to recover quickly. It reimburses victims for money spent on reclaiming their financial identities and repairing their credit reports. Costs can include lost wages, notary and legal fees, credit monitoring services and more.
You can't eliminate identity fraud risk, but Travelers Canada insurance can help minimize the impact with loss and restoration coverages that enable you and your employees to recover quickly.
Who is this right for?
What's covered?
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Credit restoration services – Provided by Intersections Inc and Sigma Loyalty Group Inc. These services include:
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Obtaining credit reports to review with the victim
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Documenting events and contact history with the victim
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Assisting in placing fraud alerts with major credit reporting agencies
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Enrolling the victim in six months of daily credit monitoring
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Providing the victim with a fraud first-aid kid
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Lost wages – Up to a maximum payment of $1,000 per week for a maximum period of five weeks, as a result of absence from employment, including for wrongful incarceration
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Family coverage – Including residents of the insured person’s household provided they are either a spouse, child under the age of 18 or parent
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Lawyer’s fees – With Travelers Canada prior consent, including:
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Removing criminal or civil judgment wrongly entered against the victim
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Challenging information in a credit report
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Defending resulting actions brought by merchants, financial institutions, healthcare providers or their collection agencies
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Pursuing the release of medical records for the purpose of investigating medical-related identity fraud
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Contesting wrongfully incurred tax liability
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Contesting the wrongful transfer of ownership of an insured person’s tangible property
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Daycare and eldercare expenses – Incurred solely as a direct result of any identity fraud discovered during the policy period
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Customers choose their own legal counsel
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Limit options – Ranging from $1,000 to $25,000
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Travel and accommodation expenses – Up to a maximum payment of $1,000 per week for a maximum period of five weeks for reasonable costs incurred by the insured person relating to the management of an identity theft
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Medical records fees – Incurred solely as a result of the investigation of a medical-related identity theft
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Fees to re-apply and re-issue government-issued personal identification – Identification documentation must have been compromised as a result of an identity theft
