Data Breach Security Program for Merchants
Protecting your merchants. Securing their assets. Saving their businesses - and yours.

According to the Trustwave 2015 Global Security Report, 43% of all data breaches involved retail merchants, 13% were food and beverage merchants, and 12% were hospitality merchants - businesses just like those of your merchants. Of all of the attacks investigated, 42% were e-commerce breaches and 40% were breaches of POS systems. When you consider that the average cost per record breached is over $130, it becomes clear just how much your merchants stand to lose. It's also clear that the major card brands are enforcing the Payment Card Industry Data Security Standard (PCI DSS) aggressively with breach protection program claims up nearly 65% in the first half of 2015 alone (RGS claims data), hitting merchants with heavy audit costs, software and hardware replacement expenses, and fines.

What's more, according to the 2015 Data Breach Investigations Report by Verizon and PwC, merchant data breach incidents have grown an average of 66% since 2009. This is true despite the fact that PCI DSS compliance has continued to climb over those years. The trouble is that 80% of all businesses fail interim compliance assessments, which can only mean that the security controls put in place at the time of compliance certification are no longer active. So what’s the bottom line? A PCI DSS solution is not truly complete without an A-rated insurance company backed data breach protection program for merchants as a key component of the solution.

That's why RGS is offering the Data Breach Security Program for Merchants, a unique insurance product designed specifically to help your merchants meet the expenses resulting from a suspected or actual data breach - expenses that could jeopardize the future of their businesses. And remember, if your merchants can't pay their fines, you pay them! The Data Breach Security Program for Merchants:
Protects small and medium-sized merchants. Many business owners mistakenly believe that thieves and hackers target only large merchants with high sales. Nothing could be further from the truth. Thieves know that large businesses have the resources to spend on sophisticated security precautions and instead target smaller merchants with an ever-changing arsenal of scams. Jennifer Fischer, Visa's senior business leader, payment systems security compliance, confirms: "Visa continues to see small merchants most frequently targeted by hackers."
Protects merchants who are already PCI compliant. Protects merchants who are already PCI compliant. If your merchants are already PCI compliant, congratulations! They've taken a major step toward protecting themselves - and you - from credit card fraud. Unfortunately, while PCI compliance provides an additional level of security (and may even save you and your merchants from some of those heavy fines assessed by card sponsors in the case of a breach), it's not enough to prevent fraud completely. In fact, any system that relies on people-run processes is vulnerable to breach, whether through deliberate employee wrongdoing or unintentional - but inevitable - human error.
Protects merchants from loss in three ways. The program covers the following expenses resulting from actual or suspected data breaches, regardless of your merchants' PCI compliance status and as long as the business owner is not involved in the breach: (1) a forensic audit when a data breach is suspected, (2) card replacement costs and related expenses, and (3) assessments and fines levied by card sponsors for breaches, including for actual fraudulent use of the compromised cards.
Protects against network breaches and physical losses. The coverage includes protection from data breaches due to network hacking, skimming, and even physical losses resulting from employee dishonesty or third-party theft of computer or paper records.

Unfortunately, the reality of data breach is not if, but when. Let RGS help you protect your merchants, their assets, and the future of their businesses - and yours.


This information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions, and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice.