Identity fraud is one of the fastest growing crimes in the country today, impacting several million people per year. An employer purchasing identity fraud expense reimbursement coverage is providing an important benefit to their employees. Generally, a bank or a credit card company will reimburse victims for direct financial loss. However, most identity theft victims are not reimbursed for the time spent and expense incurred, to re-establish their credit and clear their names. The 2013 Identity Fraud Survey report released by the Better Business Bureau and Javelin Strategy & Research shows that 13.1 million people were the victims of identity theft in 2013, up from 9.9 million in 2008.

WRAP+® Identity Fraud Expense Reimbursement

CIS offers Identity Fraud Expense Reimbursement through Travelers Wrap+® policy.   This product provides coverage to reimburse insured victims of identity theft for their time and the out of pocket expenses they incur when clearing their good name and re-establishing their credit. Coverage is provided for employees and their immediate families.   Coverage limits available start as low as $1,000 up to $25,000 per employee and deductibles start as low a $0.

There are two identity fraud group policies available through Travelers: one for employee groups and one for customer/member groups. Master policies are available in 42 states on admitted paper. Coverage limits available range from $1,000 to $25,000 per employee and deductibles start as low $0.

Both policies reimburse victims of identity theft for their time and out-of-pocket expenses they incur when clearing their good name and re-establishing their credit. In general, the coverage reimburses identity theft victims for the following:

• Lost wages as a result of time taken off from work to deal with the fraud, including wrongful incarceration.
• Notary and certified mail charges for completing and delivering fraud affidavits.
• Fees to re-apply for loans that were denied due to erroneous credit information arising out of the identity theft.
• Long distance telephone charges for calling merchants, law enforcement agencies or credit grantors.
• Attorney fees incurred, with Travelers' prior consent, for:
  • defending suits brought incorrectly by merchants or their collection agencies.
  • removing criminal or civil judgments wrongly entered against the victim.
  • challenging information in a credit report.

Travelers offers its identity fraud expense reimbursement resolution kit to insured victims of identity fraud to provide them with the help they need to resolve problems as quickly as possible.

Getting a quote is easy, just download and complete the application. Rates are based on the limit, deductible and number of covered individuals.

"Nothing stated herein affects the terms, condition and coverages of any insurance policy or bond issued by any of the referenced insurers, nor does it imply that coverage does or does not exist for any particular claim or type of claim under any such policy or bond. Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations."

Coverage underwritten by Travelers Casualty and Surety Company of America and its property casualty affiliates, Hartford, CT 06183