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PSD2 insurance

Bespoke PSD2 insurance policy to meet the regulatory requirements from Fintech specialists.

PSD2 insurance from Digital Risks

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.

Professional indemnity insurance

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 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.

We insure thousands of innovative businesses

Dan and James at Digital Risks were great in helping us get coverage for our AI skin cancer service. We had spoken to a number of brokers as we tried to get insurance for our AI but ultimately, none were able to get underwriters around the table to understand the business and coverage needed. Dan and James did that and then helped create a new policy type to get us the coverage we needed. Recommend.

CEO, Skin analytics

We had a breach and the insurance and legal support we got was invaluable. Digital Risks walked us through the whole thing including media and customer relations.

Founder, ID verification service

It was very quick and easy to claim. Our account manager replied within minutes, confirmed the details and we had the money in our account within 48 hours.

COO, HR technology platform 
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Authorised by the FCA

The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at or by calling the FCA on 0845 606 1234.