What is Identity theft?
Identity theft is when someone uses your details fraudulently and poses as you for any transaction. They might use your credit cards, set up mobile connections or even take out a personal loan in your name. In extreme cases, it can result in someone taking complete control of your existing accounts, setting up ECS or making withdrawals. It's relatively easy for someone to steal your identity with only basic information such as your name, address and date of birth. They can then add to that information by searching the Internet, phishing or trying to install malware.

You can reduce the likelihood of identity theft and fraud through some simple measures like shredding sensitive mail and be cautious about sharing your information with anyone.
What are the features of the Identity Theft Cover?
We will pay for your expenses resulting from your efforts to resolve your identity theft, and expenses can be submitted up to 12 months after you make a claim. The following expenses are covered:

Legal Expenses –We will reimburse you for attorney and court fees incurred by you:
  1. If you have to defend any suit brought against you by a creditor or collection agency or someone acting on their behalf as a result of the identity theft;
  2. To remove any civil or criminal judgment wrongfully entered against you as a result of identity theft;
  3. To challenge the accuracy or completeness of any information in your consumer credit report. Do note that this information should be inaccurate and falsely provided to the credit agency or financial institution as a result of identity theft.
Lost Wages -We will reimburse you for time taken from work solely as a result of your efforts to correct your financial records that have been altered due to identity theft. Payment of lost wages includes compensation for whole or partial unpaid workdays. You must take these unpaid days within 12 months of making a claim.

Obligation to pay - If any credit accounts and or bank accounts were opened in your name without your authorization, we will pay for your actual loss from the unauthorized account. We will pay for your legal obligation to pay a creditor when the account was created as part of your identity theft.

Miscellaneous Expenses –We will reimburse the following expenses:
  1. Cost of re-filing applications for banking accounts or credit accounts. These should have been rejected solely because the lender received incorrect information as a result of identity theft;
  2. Cost incured for notarizing documents related to your identity theft. Additionally long distance telephone calls, and certified mail reasonably incurred as a result of your efforts to report an identity theft or to correct your financial and credit records. These should have been altered as a result of your identity theft;
  3. The cost of contesting the accuracy or completeness of any information contained in your credit history as a result of your identity theft; d. The cost of a maximum of 4 (four) credit reports from an entity approved by us. The credit reports shall be requested when you make a claim.
What are the exclusions to the Identity Theft Cover?
  1. General Exclusions: Illegal Acts
  2. Intentional Acts
  3. War, invasion, act of foreign enemy, civil war, rebellion, terrorism, riot, civil commotion etc.
  4. Order of any Govt. or public authority
  5. Nuclear Perils.
Specific Exclusions:
  1. Monetary losses unrelated to resolution of identity theft
  2. Physical injury, sickness, disease, disability, shock, mental anguish, paid workdays by employer
Where do I find my Policy Number?
Your Policy number can be found under the Identity Theft Insurance Tab. Please allow up to 5 working days after registration for this to appear.
What are the coverage conditions?
  1. The fraudulent account must have been opened in your name without your authorization.
  2. Any false charge or withdrawal from the unauthorized opened account. These charges must be verified by your concerned financial Institution.
  3. The coverage for false charges is limited. The limit is the amount you are held liable for by the concerned financial institution
  4. We will be permitted to inspect your financial records.
  5. It is expected that you will cooperate with us. Your help is needed to enforce any legal rights you or we may have in relation to your identity theft. Your attendance at depositions, hearings and trials, and giving evidence as necessary is included and required to resolve your identity theft.
  6. You will only have to pay one deductible per identity theft occurrence during the policy period.
What should I do if I am a victim of Identity Theft?
  1. Call 1800119966 or provide written intimation to make a claim within 15 days of discovering the identity theft to obtain proper forms and instructions;
  2. File a police report within 24 hours of discovering the identity theft
  3. Please notify the concerned financial institution - your bank(s) or credit account issuer(s) of the identity theft. This should be done at the earliest and within 6 hours of discovering the identity theft;
  4. Complete and return any claims forms. We may also need an authorization for us to obtain records and other information such as credit reports (if applicable) within 3 days of making the claim;
  5. Keep and provide proof that it was necessary to take time away from your work. This will help you make a claim for lost wages. We will ask you to submit notarized documents and other proof from your employer that you took unpaid days off
  6. Remember to send us copies of any documents in relation to identity theft. This includes summonses, complaints, demands, notices, or legal papers received in connection with a covered loss;
  7. Take all reasonable and prudent action to prevent further damage to your identity.
I have been a victim of Identity Theft again, can I claim again?
Yes, you can claim again as long as all required documents and evidences are provided within the timeline provided.