Summary Description of Benefits

for the Personal Internet & Identity Coverage

Master Policy

This Summary is provided to inform you that as a member of the Financial Institution Benefit Association’s Enhancement Program provided through your financial institution, you are entitled to benefits under the Master Policy referenced below.  This Summary Description of Benefits does not state all the terms, conditions, and exclusions of the Policy.  Your benefits will be subject to all of the terms, conditions, and exclusions of the Master Policy, even if they are not mentioned in this Summary.

The Master Policy of AIG Personal Internet Identity Coverage has been issued to: Financial Institution Benefit Association, Inc. (the “Master Policyholder ”), Policy Number: 916235 underwritten by: American International Specialty Lines Insurance Company 70 Pine Street NY, NY 10005 (the “Company ”) to provide benefits as described in this Summary.

General Information

Should you have any questions regarding the membership program provided by the Master Policyholder, or wish to view a complete copy of the Master Policy, please call the customer service number located in the program materials.

Limit of Insurance

Aggregate Limit of Insurance:                         $ 1,000                    per policy period

Lost Wages:                                                $    500                    maximum per week, for up to 4 weeks

Deductible:                                                              $    100                    per policy period

Filing a Claim

To file a claim under the Master Policy, contact: 877-346-4319.  This is a group master policy issued to Financial Institution Benefit Association, Inc  If this master policy is terminated, your benefits will cease effective that date.  It is the obligation of the master policyholder to inform you of any termination of the master policy.

BENEFITS

We shall pay you for the following:

a)       Costs

i.  Reasonable and necessary costs incurred by you in the United States for re-filing applications for loans, grants or other credit instruments that are rejected solely as a result of a stolen identity event;

ii.  Reasonable and necessary costs incurred by you in the United States for notarizing affidavits or other similar documents, long distance telephone calls and postage solely as a result of your efforts to report a stolen identity event and/or amend or rectify records as to your true name or identity as a result of a stolen identity event;

iii. Reasonable and necessary costs incurred by the insured for up to six credit reports from established credit bureaus (with no more than two reports from any one credit bureau) dated within 12 months after your knowledge or discovery of a stolen identity event.

b)  Lost Wages

Actual lost wages earned in the United States, whether partial or whole days, for time reasonably and necessarily taken off work and away from your work premises solely as a result of your efforts to amend or rectify records as to your true name or identity as a result of a stolen identity event. Actual lost wages includes remuneration for vacation days, discretionary days, floating holidays, and paid personal days but not for sick days or any cost arising from time taken from self-employment.  Coverage is limited to wages lost within twelve months after your discovery of a stolen identity event.

c) Legal defense fees and expenses

Reasonable and necessary fees and expenses incurred in the United States by you with our consent for an attorney approved by us for:

i.       Defending any civil suit brought against you by a creditor or collection agency or entity acting on behalf of a creditor for non-payment of goods or services or default on a loan as a result of a stolen identity event; and

ii.     Removing any civil judgment wrongfully entered against you as a result of the stolen identity event.

A stolen identity event is the theft or your personal identification, social security number, or other method of identifying you, which has or could reasonably result in the wrongful use of such information, including but not limited to stolen identity events occurring on or arising out of your use of the Internet.  A stolen identity event does not include the theft or unauthorized or illegal use of your business name, d/b/a, or any other method of identifying your business activity.

Coverage Scope
The Master Policy provides benefits to you only if you report a stolen identity event to us by calling the contact number stated above promptly upon becoming aware of a stolen identity event, but in no event later than six months after the stolen identity event occurs.  Follow the instructions given to you in the claims kit that you will be provided.  These instructions will include notifying major credit bureaus, the Federal Trade Commission’s Identity Theft Hotline and appropriate law enforcement authorities.  This claims kit will also instruct you how to file for benefits under the policy if the stolen identity event results in losses covered under the policy.

You will only be covered if a stolen identity event first occurs while you are a member of the Master Policyholder’s insured program and is reported to us within 6 months.   You will not be covered if the stolen identity event first occurs after termination of the master policy or termination of your membership in the Master Policyholder’s program.

Limits Of Insurance

The most we shall pay you are the Limits of Insurance shown above.  All Legal Costs shall be part of and subject to the Aggregate Limit of Insurance.  LEGAL COSTS ARE PART OF, AND NOT IN ADDITION TO, THE LIMIT OF INSURANCE.  The Lost Wages Limit of Insurance shown above is a sublimit of the Aggregate Limit of Insurance and is the most we shall pay you for lost wages.

Deductible

1.  You shall be responsible for the applicable Deductible amount shown above and you may not insure against it.

2.  You shall be responsible for only one Deductible during any one policy period.

Other Insurance

We shall be excess over any other insurance, including, without limitation, homeowner’s or renter’s insurance.  If you have other insurance that applies to a loss under this policy, the other insurance shall pay first.  This policy applies to the amount of loss that is in excess of the Limit of Insurance of your other insurance and the total of all your deductibles and self-insured amounts under all such other insurance.  In no event shall we pay more than our Limits of Insurance as shown above.

DUPLICATE COVERAGES

Should you be enrolled in more than one membership program insured by us, or any of our affiliates, we will reimburse you under each membership program: 

a) subject to the applicable deductibles and limits of liability of each insured membership program

b)       but in no event shall the total amount reimbursed to you under all membership programs exceed the actual amount of loss.