Payment Institutions and e-Money Institutions, applying to be re-authorised by the Financial Conduct Authority (FCA), with new Account Information (AISP) and Payment Initiation Service Provider (PISP) permissions will need to evidence that their insurance coverage meets the PSD2 guidelines set out by the European Banking Authority (EBA).
The Protean Risk PSD2 Policy responds directly to the additional risk exposures and compulsory Professional Indemnity Insurance (PII) requirements created by the PSD2 Directive. This includes specific data security requirements which are not covered under a typical PII policy. Developed in partnership with a leading specialist underwriting team, the Protean Risk PSD2 policy provides you with 100% Lloyd's of London security.
What the cover includes
The PSD2 Policy combines Professional Indemnity, Data Security and Directors’ & Officers’ Liability insurance in one convenient package. Specific benefits include:
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