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. It's also quick and easy to apply with our simple online form.

How can Digital Risks help with PSD2 cover?

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 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.

Find out everything you need to know about GDPR.

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.

Further reading

23 Jan 2019
4 minute read

Cyber security risk management framework

To effectively protect your business from cyber-attacks and data breaches, you must first identify the biggest threats and vulnerabilities you face.

6 Dec 2018
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Fintech startups to watch in 2019

Here’re our top 6 hottest Fintech startups that Digital Risks are tipping to thrive in 2019. We’ve taken a look at Truelayer, Monese, PensionBee, Akoni, Tail and the Craft Gin Club.

24 Sep 2018
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With UK customers happy to shop beyond our shores, it follows that UK businesses must also look further afield to expand their reach and growth potential. And in the digital age it’s easier than ever, with much lower barriers and overheads involved. So, where do you start?

We insure thousands of innovative businesses
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What our customers say

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 software

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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A-rated financial strength

Our insurance products are underwritten by Standard & Poor’s A-rated financial strength or higher. This means the underwriter has been independently assessed by the world’s leading credit rating provider and found to have a strong capacity to meet financial commitments (pay claims).

Protected by the FSCS

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