No. The identity theft insurance would cover you for out-of-pocket expenses. If you have to hire a notary or a lawyer, or if you have to take time off work to rehabilitate your stolen identity, that would be covered in the $50,000 insurance. The losses for the credit card company would arise if your credit card was stolen and somebody went to the restaurant and used your card to pay for a meal. That would be up to the card carriers and issuing banks to cover.
On December 4th, 2017. See this statement in context.