AIG United Guaranty

To better serve the needs of our lenders and their borrowers, AIGUnited Guaranty ¹ is pleased to introduce the addition of Personal Identity Theft Insurance* to our innovative suite of products. Lenders may opt-in for this value-added insurance program to help borrowers restore their personal information in the unfortunate event of identity theft.

No administrative worries: AIG United Guaranty manages the administration process for our participating partners.
$10,000 maximum coverage for specific expenses related to personal financial identity restoration
Trained specialists available to assist your borrower through the steps of restoring personal files and records, in the event of a claim
Borrower access to ID theft-prevention educational material

Protect your greatest investment – your borrowers!
Offer your AIG United Guaranty-insured borrowers a true value-add that responds to the fastest-growing financial crime in Canada.

Identity theft in Canada is on the rise and costs businesses approximately C$2.5 billion per year.² In a matter of seconds, personal information, such as social insurance numbers, credit card numbers and addresses can be stolen and used to obtain a new mortgage, line of credit or additional credit cards. Victims may not know that their identities have been stolen until unauthorized transactions appear on credit card statements, collection notices appear in the mail or loan applications have been declined. In a short period of time, extensive damage can be done as a result of a stolen identity.

Restoring one’s name and good credit is a time consuming and expensive process. On average, it takes six months to detect identity theft and approximately 200 hours to recover from the crime. ³Victims must complete a number of costly steps to dispute fraudulent debts and accounts opened by an identity thief.

Personal identity theft insurance: Who underwrites it?
Personal Identity Theft Insurance (PITI) was developed and is underwritten by American Home Assurance Company. As a group insurance policy, designed to improve your product portfolio, identity theft insurance is offered at no cost to you or your AIG United Guaranty-insured borrowers, providing expert assistance and financial relief to those affected by identity fraud.

Trained specialists are on call to guide individuals through the process of restoring their personal identity profiles and credit records.
An ID Theft Recovery Kit, complete with form letters to send to creditors, credit bureaus and government agencies, is provided to each identity theft victim.
Covered borrowers get access to educational materials about ID Theft prevention.

Income Protection – Coverage is provided for lost wages as a result of time missed from work to resolve complications related to identity fraud.
Expense Reimbursement – The plan covers expenses related to identity recovery, including defense costs for certain civil suits, re-filing for loans and reimbursement of fees.

AIG United Guaranty: Strength and service you can depend on!
AIG United Guaranty is proud to provide the Personal Identity Coverage product, underwritten by American Home Assurance Company, a subsidiary of American International Group, Inc. (AIG), the leading international insurance and financial services organization, with operations in approximately 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer.

How does a lender opt-in?
Please contact your AIG United Guaranty Account Executive for more information about this program. For immediate inquiries, contact our National Underwriting Centre to discuss the opt-in process today.

*Insurance is underwritten by members of American International Group, Inc. The information contained herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage. Coverage may not be available in all jurisdictions.
¹ AIG United Guaranty is a marketing term for AIG United Guaranty Mortgage Insurance Company Canada.
² “Identity Theft Conference” Press News Limited, 21 October 2003.
³ Identity Theft Center, September 2003.