Yes, you are correct. If a traveler's check is lost or stolen, it can generally be replaced by the issuing financial institution. Traveler's checks were once a popular payment method for travelers due to their security features and widespread acceptance. In the event that a traveler's check is lost or stolen, the holder would typically need to contact the issuing financial institution as soon as possible to report the incident. The institution would then typically follow its established procedures to verify the claim and issue a replacement check. However, it's important to note that the specific processes and policies for replacing lost or stolen traveler's checks may vary from one financial institution to another. Therefore, it is advisable to familiarize yourself with the relevant procedures and keep the necessary contact information handy before embarking on a trip. Additionally, with the widespread use of debit and credit cards, as well as mobile payment methods, traveler's checks have become less common in recent years. Many people now rely on these more modern payment methods for their convenience and security. Nonetheless, traveler's checks may still be an option for those who prefer them or for specific travel situations.