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Underwriting Corner | Identity Theft Expense and Resolution Services Coverage


Underwriting Corner | Identity Theft Expense and Resolution Services Coverage

The recent security breaches at major companies like Target, Neiman Marcus and Yahoo show that no one is completely safe from the risk of identity theft.  While there are steps that can be taken to reduce the risk, identity theft can still happen.  Did you know that Lighthouse offers Identity Theft Expense and Resolution Services Coverage as an optional coverage on our homeowners policies?  While we cannot prevent identity theft, we can help in the process of making someone whole.  The following is a summary of this additional coverage.

Identity Theft Expense and Resolution Services Coverage (LPIC 175 in Louisiana and LHSC 105 in South Carolina can be found on the Agency website under the “Forms” button for more information)

Through this endorsement, we will pay up to $25,000 for expenses incurred by an insured as the direct result of any one identity theft discovered during the policy period.  And, the insured has access to resolution services from a consumer fraud specialist who can assist them in the process of restoring their identity.  Some of the expenses covered under this coverage are:

  • Costs for notarizing fraud affidavits or similar documents for financial institutions or similar credit grantors or credit agencies that have required that such affidavits be notarized.
  • Costs for certified mail to law enforcement agencies, credit agencies, financial institutions or similar credit grantors.
  • Lost wages as a result of time taken off from work to meet with, or talk to, law enforcement agencies, credit agencies and/or legal counsel, or to complete fraud affidavits, or due to wrongful incarceration arising solely from someone else having committed a crime in the insured's name, up to a maximum payment of $1,000 per week for a maximum period of five weeks.
  • There is no deductible applied to this coverage.

If you would like more information about Identity Theft protection or to share your tips, please join our Lighthouse Property Insurance Corporation group discussion “No One is Safe from Identity Theft Scammers” on LinkedIn: If you are not already a group member and following us, please reach out – we would love to have you as part of our group!

Please note, not all coverages are available in all programs or states.  The information provided here is only applicable to Lighthouse Property Insurance Corporation and should not be construed as underwriting guidelines for general knowledge.

Written by: Jennifer Vazquez, CPCU