Cyber Insurance for Fines and Penalties
There is growing interest around the area of insurance cover for fines and penalties imposed by public entities, arising from data breaches and general cyber-security issues. &nbsp;"In the event of a data breach, a payment card brand may assess fines or other amounts on the acquiring bank. &nbsp;The acquiring bank will then deduct that assessment directly from the merchant&rsquo;s account. &nbsp;Litigation sometimes ensues."
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