PCI Vendor Offers $100K For Any Customer Breached
Written by Evan SchumanSeptember 30th, 2010
With all of the PCI shell games around, it's nice to find one vendor offering what seems to be a legitimate PCI insurance program: Use its package and get breached, and the vendor will reimburse some of your out-of-pocket breach costs, with a $100,000 cap. The program, from a company called BHI SecureConnect (soon to be called just SecureConnect), is designed for the smallest of retail chains. But if the vendor can make this insurance concept work, it has definite potential.
To qualify for the money, a merchant doesn't have to be PCI compliant (although that's always nice). Indeed, it doesn't even have to experience a real breach, said SecureConnect Director of Marketing Kristyan Mjolsnes. For example, if the chain's bank or a card brand suspects a breach and insists the chain pay for a forensic probe, that would be covered, she said. If the chain gets nervous and wants to triple-check on its own, however, that would not be covered, Mjolsnes added, reasonably enough.
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Our Comment SPAM system is getting very aggressive these days and has been blocking legitimate comments. If you post a comment and don't see it appear within 2 hours or so, can you please send a heads-up to customer-service@storefrontbacktalk.com? Ideally, please include the time you posted the comment. That will allow us to try and hunt for it. Thanks! P.S. We're working on fixing the system, but we don't want to lose any valuable comments in the meantime.
I have strong reservations about the 'individual' certification and posting of that information for merchants. Can you imagine the potential employee poaching that might occur? The implications when competitors can look up how many are certified with each of their competitors? 
-Christine
