MUA Executive Policy - Van Flymen & Associates

Identity TheftSPECIFIC DEFINITIONS FOR THIS SECTION1. You and your: These words refer to you, the personnamed in your schedule, and your legal spouseor dependent children under the age of 21 whopermanently reside with you.2. ATM: Automatic teller machine3. Business: Your employment, trade, profession oroccupation4. Payment card: An ATM card, credit card, or debitcard issued by a registered financial institution orqualified retail shop5. Identity theft: The unauthorised and/or illegal useof your personal information such as your nameor identity number to obtain a loan or open creditaccounts6. Relative: Someone who is related to you, includingbut not limited to spouses, siblings, children andparents7. Suit: A civil proceeding seeking monetary damagesas a result of identity theft, or a criminal proceedingin which you are charged with illegal acts committedby any person other than you while they were usingyour identity8. Extended claim period: The 12-month periodfollowing the end of the period of insurance or suchother time that Chartis may agree to in writingWHAT CHARTIS OFFERSYour coverIn the event of identity theft which takes place anywherein the Republic of South Africa during the period ofinsurance and after 30 days has passed from the startdate of your policy, Chartis will cover you up to theamounts as stated in your schedule for1.2.reasonable legal expenses that you incur as a directresult of identity theft ina.b.c.defending any suit brought against you by acreditor or collection agency or someone actingon their behalfremoving any civil or criminal judgmentwrongfully entered against you andchallenging the accuracy or completeness ofany information in your consumer credit report,provided this information is inaccurate andfalsely provided to the credit agency or financialinstitution.income you lost solely because of the time takenfrom your profession to resolve any identity theftexcept if you are self-employed. This does notinclude compensation for whole or partial unpaidworkdays, nor vacation days or sick days providedthat these unpaid workdays are taken during theperiod of insurance or within 12 months of thispolicy’s expiration date.3.4.your actual loss owing to your legal obligation topay a creditor if, as part of your identity theft, anypayment cards, bank accounts, and other creditaccounts were opened in your name without yourauthorisation.miscellaneous expensesa. costs you incur for refiling applications forloans or other credit or debit accounts thatare rejected solely because the lender receivedincorrect informationb. costs for notarising documents related to youridentity theft, long-distance telephone calls, andcertified mail reasonably incurred as a resultof your efforts to report an identity theft or tocorrect your financial and credit records thathave been alteredc. costs you incur to contest (debate) the accuracyor completeness of any information contained inyour credit historyd. costs you incur for a maximum of 4 creditreports from an entity approved by Chartis. Thecredit reports will be requested during the policyperiod or the extended claim period. The firstcredit report may not be requested until afterthe discovery of the identity theft.36 MUA Executive Policy