Merchant Data Breach
Many business owners mistakenly believe that thieves and hackers only target large merchants with high sales. But data breaches can happen to any business regardless of size There are several kinds of breaches that can occur including network breaches like hacking and skimming and physical losses resulting from employee dishonesty or third-party theft of computers or paper records. For every credit card transaction a merchant runs he is possibly incurring a liability of up to $10 in the event of a data breach. Merchant Assurant provides coverage from the expenses associated with each of these types of losses.
The Merchant Assurant Plan Market
A perfect companion to the Smart Merchant Services program the Merchant Assurant program protects merchants against the significant expenses that can they could incur as the result of a data breach which can reach upwards of $20,000 even if the breach is only suspected.
Program Features
The key features of this program prevent the small business from financial devastation in the event of a data breach.The areas of protection include:
- PA forensic audit when a data breach is suspected This audit will confirm whether an actual breach has occurred and pinpoint where your system is most vulnerable.
- Card replacement costs and related expenses.
- Assessments and fines are required by MasterCard and/or VISA in the event of an unintended breach of confidential customer information, whether the information security breach is caused by an online hacker, a dishonest employee, or the actual theft of a computer or paper records. These fines are levied with this program.
- Program has a limit of liability of $100,000
Program Advantages
Activating the coverage is effortless and can be set in motion as soon as a data breach is suspected.
- Easy to use online claim form
- Upload or fax the notice of the suspected breach, and choose an authorized, qualified security assessor.
- Upon completion of the audit, upload or fax a copy of the assessor’s invoice. The invoice will be processed for payment and a check will be mailed for the expenses incurred.
Call J.T. Miller Company with any questions you may have.
