Payment Card Industry (PCI) Fines, Expenses and Costs

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If your company collects, stores, processes or transmits payment cardholder information, you must be PCI compliant.

The Payment Card Industry (PCI) has created a set of security standards focusing on improving payment account security during the transaction process. These security standards apply to all organizations, regardless of size or number of transactions.

If your company is breached, the cost of the fines and expenses can be crippling and a company’s inability to pay them can result in the inability to process credit or debit cards.

Visit https://www.pcisecuritystandards.org/ to review the standards and participate in a self-assessment.

Want to speak to an Insurance Broker?  Contact Michelle Loft 1-800-489-7889 or by email michelle@magenta-ins.ca to discuss how we can include Payment Card Industry (PCI) Fines, Expenses & Costs coverage on your business policy.

 

 

 

 

 

 

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