Patent ID: 8275636
Filing Date: 2012-09-25
Classification: G06Q

Abstract:
1. A method for providing insurance coverage guaranteeing to a user the identity of a trading counterpart in an online marketplace transaction as being a specified person, persons, or entity, the method comprising the steps of: calculating, using a central processing computer, a monetary premium for an identity insurance policy, the premium calculated based upon risk assessment information accessed through the central processing computer relating to a risk of loss caused by the identity of the trading counterpart in the online marketplace transaction being different than the specified person, persons, or entity; supplying, by an insurer, the identity insurance policy to the user, wherein the identity insurance policy provides coverage for the user against a loss resulting from the identity of the trading counterpart in the online marketplace transaction being different than the specified person, persons, or entity; receiving, by the insurer, the premium from the user; supplying, by the insurer, additional insurance to the user, wherein the additional insurance provides coverage for the user against a loss resulting from the financial inability of the trading counterpart to complete an online marketplace transaction, the additional insurance including an additional predetermined monetary premium payable to the insurer; and receiving the additional premium by the insurer from the user.