On December 19, 2013 Target Stores announced they discovered a data breach that may have impacted 110,000,000 cards. An investigation in January revealed malicious software, called BlackPOS, was placed on their system which intercepted bank card transactions sent to the Card Associations for approval.

At least three types of loses emerge from a data breach which quickly accelerates the costs of claims and challenges to customer confidence:

1. The cost of goods and services purchased by fraudsters.
2. The cost of replacing the compromise cards.
3. The indirect costs of restoring public confidence following the claim.

The Bank Card Protector® Policy is a simple, low-cost solution designed to indemnify the issuer from loss costs generated by fraudulent purchases. In addition, this unique policy can be endorsed to include Compromised Cards Extra Expense Coverage which will pay the issuer the costs associated with replacing cards listed in the Card Association alerts, such as notification letters to cardholders, new cards, mailing costs and activation expenses.

For more information about obtaining this policy for your bank, contact Brian Mobley, FPSI, 615-244-5100 or

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