Magazine article Risk Management

Financial Support for Identity Theft Claims. (Coverage)

Magazine article Risk Management

Financial Support for Identity Theft Claims. (Coverage)

Article excerpt

AIG eBusiness Risk Solutions offers AIG Personal Internet Identity Coverage (PIIC), a policy designed to help businesses and other organizations address the online privacy concerns of consumers by offering reimbursement of financial losses and legal assistance in the event of identity theft. AIG PIIC provides insurance coverage that reimburses individual insureds for certain expenses related to identity theft, virus circulation and physical damage to computers that may have occurred as a result of personal Internet or wireless use. The policy will provide legal defense for actions related to identity theft, and reimburse costs associated with refiling for loans or other credit and debit instruments and payment of lost wages as a result of time off work to replace identity related items. Additionally, AIG PIIC policyholders receive an identity theft claim kit and access to a dedicated toll free help line to help an insured in reporting the event to all required agencies.

Businesses, associations and employers can make AIG PIIC available to customers, members or employees concerned with online privacy issues, including: credit card companies and other financial institutions that use a customer's credit card, bank and brokerage account numbers for online transactions; Internet service providers, including companies that provide Internet access via television and wireless devises; credit information services providers that report credit irregularities resulting from an identity theft incident; employers managing their employees' personal information online through company systems; and associations offering personal insurance lines as part of member service programs. …

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