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Identity Fraud Expense Reimbursement Coverage

Last modified: January 22, 2020
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Identity theft takes a serious financial toll on its victims.  Identity fraud incidence increased in 2012 for the second consecutive year, affecting 12.6 million consumers and costing $20.9 billion.1

Signature Bank is committed to protecting your information and we want to ensure you by providing the complimentary identity theft service described below. When you open a personal checking account, you are automatically covered with up to $5,000 of Identity Fraud Expense Reimbursement Coverage2.

Restoring one’s name and good credit is time consuming and expensive.  Identity theft victims must endure a number of costly steps to re-establish their identities and dispute fraudulent debts and accounts opened by and identity thief.  As a Signature Bank account holder3, you are protected with up to $5,000 of Identity Theft coverage to cover expenses incurred in the recovery of a stolen identity…such as lost wages, legal fees, certified mail and long distance charges.  Members who fall victim to identity theft receive an ID Theft Client Guide to assist in the process of restoring identity profiles and credit records and the help you better understand the recovery process.  Your coverage also includes toll-free telephone access to consumer fraud specialists, should you become victim of identity theft.  With the help of a recovery specialist, the time and stress associated with recovery can be dramatically reduced. You will also have access to an online identity theft news center and can register to protect your debit and credit cards with one phone call should they become lost or stolen. 1Javelin Strategy and Research.  Identity Fraud Survey Report, February 2013. Identity theft insurance underwritten by insurance company subsidiaries or affiliates of Chartis Inc.

The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policy described.  Please refer to actual policy for terms, conditions, and exclusions of coverage.  Coverage may not be available in all jurisdictions. 3 Account holder includes personal checking account and money market account.

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