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News

NZ gets new weapon to protect themselves in the fight against
identity theft

17/09/2009

In the US an identity is stolen every two seconds; now identity theft is on the rise in New Zealand too.

Last year more than 1,100 incidents* of identity misuse were reported in New Zealand, with this number expected to increase dramatically. Identity thieves steal personal information and use a person’s identity to commit fraud. This can not only result in the loss of large sums of money, but victims may be unable to get credit or even end up with a criminal record because a crime has been committed in their name.

Now for the first time New Zealanders have a weapon to use against identity theft. Insurance company CIGNA has partnered with Veda Advantage, New Zealand’s leading credit agency, to offer an Identity Theft Insurance policy, which will help detect identity theft and resolve and restore stolen identities.

Mark Kenning, National Contact Centre Manager for CIGNA Insurance, says, “Stand alone identity theft insurance exists in other countries but until now this hasn’t been the case in New Zealand. CIGNA recognises that many New Zealanders don’t know how to protect themselves from this crime nor what to do if it happens to them, which is why we’ve created our Identity Theft Insurance policy.”

CIGNA Identity Theft Insurance gives customers safe and simple steps to ensure their identity is secure. After signing-up, customers receive a copy of their personal credit file which allows them to see who has run credit checks on them against Veda Advantage’s consumer credit bureau. A credit alert facility means consumers can be notified immediately via email or post if their consumer credit bureau credit file has been accessed. This preventative measure enables consumers to act swiftly to prevent damage to their credit history and take steps if their identity is being claimed and used by a third party . If an identity is stolen, the restorative assistance element investigates the fraud and addresses damage to the consumer’s credit rating, while the financial assistance helps to cover legal costs and/or loss of income.

John Roberts, Managing Director of Veda Advantage NZ, says, “Identity theft is a crime which often leaves victims feeling emotionally scarred, violated, angry and helpless. For many New Zealanders, having their identity stolen will result in someone else's bad credit history recorded on their credit report. It is important to put measures in place to prevent this growing crime and ensure New Zealanders have protection against their most valuable asset – their identity.”

Five tips to avoid identity misuse

  • Keep track of your credit file so that you receive notification every time a credit enquiry is made
  • Destroy (shred, tear or burn) any bank statements, bills or anything that contains your personal or account details when throwing it away
  • Don’t share your PIN numbers
  • Sign credit cards as soon as you receive them
  • Contact your bank and the Police immediately if your cards are lost or stolen

*Police statistics 2007/2008

Re: Close Up Story, Thursday 11 February

12/02/2010

A story on TVNZ’s Close Up programme on Thursday 11 February mentioned CIGNA New Zealand. Specifically the story related to a decision by CIGNA to decline a customer claim by Mrs Maree Vaile, who has terminal cancer.

Some of the comments made in the programme were, we believe, misleading and we would like to take the opportunity to address them.

First, we extend our deepest sympathies to Mrs Vaile on her illness. We appreciate this is a tragic situation and our heart goes out to her and her family.

Last year Mrs Vaile made a claim for a living benefit payment on her life insurance which we declined. There were clear grounds for us to make this decision.

In fact, Close Up itself acknowledged in an email to us that we acted correctly in initially assessing Mrs Vaile's claim. Despite clearly communicating CIGNA’s position Close Up chose not to include this in its coverage.

Following a request from Mrs Vaile earlier this year to reconsider her case, we undertook an extensive review of the case. This showed that the circumstances in which the application was made were unique and, as a result, Mrs Vaile believed she was not in a position to understand fully the impact of her actions.

As a result of this extensive review, and the unique and unprecedented circumstances of this case, we made a confidential ex-gratia offer to Mrs Vaile on compassionate grounds.

CIGNA advises anyone taking out any insurance to make sure they are well informed and ask questions at every step of the way. Taking out any insurance policy should be treated very seriously.. We advise anyone doing this to follow these five important steps:

  • Read the Application Form thoroughly, including any small print
  • Ask questions if you are unsure about any wording
  • Once you have received your policy documentation read it carefully to ensure you understand what is covered. CIGNA allow customers a 30 day ‘Free Look’ to do this.
  • If in any doubt about its meaning, ring the insurance company with your question, or consult a lawyer or a financial advisor
  • Check the excellent website (www.iombudsman.org.nz) of the New Zealand Insurance and Savings Ombudsman which has answers to many common questions.

Gail Costa
Chief Executive Officer
CIGNA Life Insurance NZ Ltd