PSD2 insurance

Specialist cover for payment initiation and account information service providers.

Under PSD2, fintech businesses have to prove to regulators that their professional indemnity insurance cover (PII) meets the standards outlined in the legislation. As a fintech specialist, we've worked with leading underwriters to build a bespoke PSD2 insurance policy to meet the regulatory requirements and give you the peace of mind that you're protected.

How can Digital Risks help with PSD2 cover?

We've designed world-class cover, and made it super simple to buy.

Professional indemnity

All Payment Initiation Service Providers (PISPs) and Account Information Service Providers (AISPs) must be able to demonstrate that their cover meets the required insurance limit and excess, as outlined by the European Banking Authority (EBA).

This provides reassurance that you're protected if a customer loses money as a result of your technology or service, in the case that a payment transaction is executed without authorisation, for example.

Our PSD2 compliant insurance offering ensures continual compliance with the minimum limit required and if you're unsure, we can also help you determine the applicable limit.

Cyber and data risks

Protection from cyber exposures such as hackers, ransomware and unintentional disclosure of customer data is important for any fintech business.

But with the increased access to customer account information afforded by PSD2, exposure to cyber-attacks, data breaches and resulting fines is potentially even greater.

Our Cyber Liability cover will protect you against any legal and compensation claims that could follow a breach, as well as system rectification costs, PR and crisis management expenses and financial loss due to system downtime and business interruption. Plus our policy covers all of the enhanced data security requirements that PSD2 imposes around fraudulent or non-authorised use and access to your client's account information.


With Digital Risks, there's no need to obtain a separate crime policy.

Our dedicated PSD2 cover has crime protection available as standard. That means you'll be covered where there is theft of your own funds, or any client money that you are responsible for (by electronic and physical means).

Fines and compliance

With new regulation comes new responsibilities and greater exposure to fines and penalties.

That's why our PSD2 professional indemnity insurance (PII) will protect you against regulatory investigations and defence costs, as well as any penalties that are legally insurable.

Same goes for the upcoming GDPR legislation, which brings with it fines of up to €20m or 4% of annual turnover.

Award-Winning Insurance

We're the British Insurance Awards 2018 Insurance Start-up Winner - recognised for our innovative range of covers, online customer experience and flexible subscription model, which make buying and managing insurance easy and accessible for businesses in the digital industries.

But don't just take our word for it. Leading digital companies, large and small, choose Digital Risks to protect their people and businesses.

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What our customers say

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