Last year, nearly 36 million personal records were compromised by data breach — and that number is expected to grow in the future. What’s more, nearly 40 percent of those breaches occurred at businesses. The fines, assessments, and expenses merchants are obligated to pay even if a breach of credit card data is only suspected could cost thousands — even tens of thousands — of dollars.
First Payment Services’ Data Breach Insurance for Merchants is designed to protect merchants from that risk.
The mandatory forensic audit required by the Payment Card Industry Data Security Standard (PCI DSS) when a data breach is suspected (this audit confirms whether an actual breach has occurred and pinpoints where your systems are most vulnerable)
Credit card replacement costs and related expenses
Assessments and fines levied by card sponsors for data breaches
Data breaches caused by employee dishonesty and/or the physical theft of data, as well as computer hacking
Level 2, 3 and 4 merchants covered regardless of PCI DSS compliance
“A” rated insurer
Flexible policy limits from $50,000 to $100,000 per MID
No deductible
No co-pay