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Identity insurance transaction method

  • US 20020188481A1
  • Filed: 10/26/2001
  • Published: 12/12/2002
  • Est. Priority Date: 10/26/2000
  • Status: Active Grant
First Claim
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1. A method for providing assurance to a user of the identity of a trading counterpart in an online marketplace transaction via an insurance policy, the method comprising the steps of:

  • supplying, by an insurer, the insurance policy to said user, said insurance policy includes a predetermined monetary premium payable to said insurer;

    receiving said premium by said insurer from said user; and

    paying by said insurer, in accordance with terms of said insurance policy, benefits of said insurance policy resulting from the misidentified or misrepresented identity of said trading counterpart, to said user between a policy inception date and a policy termination date.

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