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Fulmont Mutual Insurance Company is pleased
to announce the availability of a new form that will protect you if you
suffer an Identity Theft loss and need help with your Identity Recovery.
***THE COST TO ADD THIS FORM TO YOUR POLICY IS $28.00 ANNUALLY.***
This is a summary of coverage. Review the actual policy for details on all
coverages, terms, conditions and exclusions. Contact your insurance agent to
add this form, or send your request directly to us using our website.
Click on “Policy Changes” and type in “Add our
Identity Recovery Coverage form”.
FAQ's:
Who is covered?
Coverage and service apply to any “insured” as defined in the Homeowners
policy. In most Homeowners policies, “insured” is defined as follows:
“Insured” means you and residents of your household who are:
- Your relatives; or
- Other persons under the age of 21 and in
the care of any person named above.
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Why do you call it Identity Recovery
Coverage?
Because the program is designed to assist victims of identity theft with
recovering control of their identity and correcting their credit history.
Conventional “identity theft” insurance only
reimburses people for the expenses they incur to do all the work themselves.
Our Identity Recovery Coverage also includes services to assist insured in
restoring their good name and credit.
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What services do the case managers
actually perform?
Confirmed identity theft claimants are referred to a case manager who guides
them through all the steps in the process to correct their credit history or
identity records. This can include:
- Working with credit bureaus, creditors,
financial institutions, and others to identify errors and help claimants
correct their records;
- Enrolling victims in an electronic
credit monitoring service;
- Requesting a fraud alert with credit
bureaus where warranted;
- Preparing communications for claimants
to send the Social Security Administration, their state’s Department of
Motor Vehicles and other government entities;
- Providing legal referrals for assistance
with court appearances and legal entanglements related to identity
theft;
- Working with claimants to check for a
recurrence of identity theft problems;
- Keeping detailed records of the steps
taken and remaining in the process.
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Which identity theft cases are referred to
a Case Manager?
Cases are referred to a Case Manager when someone illegally assumes the
identity of the insured and uses the victim’s identity to commit fraud or
crimes. For example, this includes instances where the thief takes control
over the insured's existing accounts by changing the address to which
statements are sent. Other examples are cases where thieves open new
accounts or commit other crimes in the insured’s name. Most victims need
professional assistance in these cases because by taking control of the
insured’s identity the thief is able to operate undetected for a period of
time and commit multiple fraudulent acts or crimes. The victim only becomes
aware of the crime when they attempt to make a purchase, take out a loan or
take some other action only to be denied because their credit history or
records show the trail of the criminal. Thieves in these cases leave such a
confusing tangle of misinformation in so many different institutions that
most persons need help in navigating through the recovery process.
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When you say “the case manager will assist
the insured,” does that mean that they’ll do all the work and the insured
doesn’t have to take any action?
The case manager will assist the victim in all steps that a third party can
legally perform. Understand that most creditors will only deal with the
victim directly to resolve problems, but the case manager can assist them in
making a call or contact and otherwise facilitate the process. Case managers
know who to contact, how to contact, what information the creditor or
institution will need and how to demonstrate that the victim’s records or
accounts have been fraudulently misused. You could think of case managers as
a personal trainer at the victim’s side to coach them through the entire
identity recovery process.
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What about misuse of an insured’s credit
card account, do they get any help?
Instances where someone gets a credit card number and makes unauthorized
purchases to the insured’s account are not true identity theft. While such
cases are irritating, in fact most people can resolve these problems with a
call and a letter to their bank or credit card company. Insureds
experiencing credit card misuse are encouraged to call our toll free
Identity Recovery Help Line to obtain our Identity Recovery Customer Guide.
The guide supplies insureds with the information and steps they need to take
to resolve these cases themselves.
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What if a victim is being subjected to a
lawsuit or other legal action, can the case manager offer legal advice?
Our case management service is staffed with experienced specialists but they
are not lawyers. We can, however, refer you to pre-screened and qualified
legal counsel experienced with identity theft legal issues.
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Does the Identity Theft insurance pay for
fraudulent charges that an identity thief makes to someone’s account?
Credit card companies, banks, merchants and other financial institutions
generally assume most losses from identity theft. The victim needs to notify
these companies of course but typically victims are not responsible for more
then the first $50 on a bill and in fact can often get the charges removed.
But the insured is still stuck with the burden of correcting their credit
history and identity records that may have been damaged. Easing the
insured’s burden in cleaning up their records and restoring their reputation
is what our Identity Recovery Coverage is designed to do.
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If your program is so much better does
that mean it’s more expensive?
On the contrary, our Identity Recovery coverage is priced at or below what
other companies are charging for expense reimbursement insurance without any
personal recovery services.
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I received a notice that my personal
information was lost or stolen. Does this mean I'm an identity theft victim?
No, most people whose information is compromised never have their identities
fraudulently misused. However, you should be especially vigilant in checking
on your credit report periodically.
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