Identity Fraud Sample Clauses
The Identity Fraud clause establishes the responsibilities and consequences related to the use of false or stolen identities in the context of the agreement. It typically outlines that parties must not misrepresent their identity or use fraudulent credentials when entering into or performing under the contract. This clause may also specify remedies or penalties if identity fraud is discovered, such as termination of the agreement or liability for damages. Its core function is to protect all parties from the risks associated with identity theft or misrepresentation, ensuring trust and integrity in contractual dealings.
Identity Fraud. We will pay for a covered person’s identity fraud expenses, up to a maximum of $25,000, for each identity fraud occurrence. The policy deductible applies to each identity fraud occurrence. “Identity fraud” means the act of knowingly transferring or using, without lawful authority, a covered person’s means of identity which constitutes a violation of federal law or a crime or offence under any applicable state, provincial, territorial or local law.
Identity Fraud. If any party other than any Insured Person enters into any agreement with any third party entity fraudulently representing themselves as any Company, then the Insurer shall pay any reasonable and necessary fees, costs and expenses incurred by such Company in establishing that such fraudulent misrepresentation has occurred, in the event that the third party entity seek to enforce such agreement against such Company, subject to the Sub-Limit specified in Item 5 of the Schedule.
Identity Fraud. The Insurer shall pay, on behalf of the Company, Identity Fraud Expenses provided such expenses are incurred with the prior written consent of the Insurer. The maximum liability of the Insurer during the Policy Period under this Insuring Clause shall be the lesser of 5% of the Limit of Liability or £50,000. Such amount shall be part of and not in addition to the Limit of Liability. The Insurer shall not unreasonably withhold its consent to the incurring of costs and expenses.