As We Have For More Than 20 Years, USI Insurance Services LLC Helps Develop A Solution For RAMW Members!

New Payment Card Security Extra Expense Coverage from Fireman’s Fund Commercial Insurance

When the RAMW came to USI Insurance Services to detail members’ concerns regarding Payment Card Industry Data ecurity Standards (PCIDSS ), USI listened. Through USI’s discussions within the insurance marketplace and from uidance both within and outside USI, we are pleased to announce to the RAMW that Fireman’s Fund® Commercial Insurance has launched an innovative coverage to help businesses manage PCIDSS exposures. Fireman’s Fund® is now offering Payment Card Security Extra Expense. As an extension of Fireman’s Fund® Data Compromise coverage, payment Card Security Extra Expense extends enhanced overages to businesses that accept debit, credit or charge cards from the potentially devastating financial consequences of a security breach to their payment card systems and data.

Many insurance companies offer coverage for circumstances when your electronic data has been compromised, including nvestigation and notification expense reimbursement to your business. Fireman’s Fund’s® new extension to their Data Compromise coverage addresses the additional and sizable expenses that arise when that data breach involves payment cards. These expenses can be large enough to threaten the very survival of your restaurant.

What’s at Risk?

If your restaurant suffers a payment card data breach while out of compliance with these security standards, you may face unbudgeted Extra Expenses including:

▪ Substantial contractual penalties with your payment card processor
▪ Responsibility for customer credits for fraudulent charge
▪ Expenses to reissue compromised payment cards; and
▪ Expenses to upgrade hardware and software systems and recertify compliance

Data breach can be a terrible experience for any business often impacting their reputation. That is why Fireman’s Fund® included additional coverage for necessary expenses for media relations, response communications and customer promotions following the personal data breach.

Contact John Sames or Mike Fragola at USI for more detailed coverage information.

John Sames Direct: 703-205-8734 This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Mike Fragola Direct: 703-698-0788 This e-mail address is being protected from spam bots, you need JavaScript enabled to view it