Payment card industry fines and assessments insuring agreement

{
  "id": "MLC-T-INS-002525",
  "term": "Payment card industry fines and assessments insuring agreement",
  "field": "Insurance and risk management",
  "definition": "A specific section within a cyber insurance policy that provides coverage for fines and assessments levied by the Payment Card Industry (PCI) organizations. These penalties arise from non-compliance with the Payment Card Industry Data Security Standard (PCIDSS) following a data breach involving payment card information. The agreement typically covers forensic investigation costs and remediation expenses related to the non-compliance.",
  "subject": "Cyber and Privacy Liability",
  "url": "https://mlchart.com/terminology/insurance/payment-card-industry-fines-and-assessments-insuring-agreement/"
}