Consumers covered will have access to reimbursement of funds that are stolen via an unauthorised electronic funds transfer
Affinion Security Center (ASC), a provider of identity theft protection, detection and resolution services, has announced the addition of $1 million limit of Identity Theft Insurance. The new benefit is available immediately in the US.
This benefit provides for reimbursement for the typical cost of restoring good name that can result from having the identity stolen such as certain court costs, attorney fees and lost wage compensation. The enhanced insurance benefit is distinctive to other competitive offers in that those consumers covered will have access to reimbursement of funds that are stolen via an unauthorised electronic funds transfer.
This benefit is suited for the circumstances where instead of fraudulent purchases, unauthorised electronic fund transfers are the main crime perpetrated and when a financial institution will not reimburse some expenses incurred as the result of identity theft.
Tom Rusin, CEO of Affinion Security Center, said: “Protecting, identifying and resolving ID theft requires significantly more than technological solutions alone. We’ve added this new benefit to a full suite of insurance offerings that help us mitigate the financial losses for consumers who have become victims of this crime.”
The $1 million identity theft insurance benefit is currently available through Affinion Security Center’s IdentitySecure product as well as a variety of financial institutions.