Insurance of emitters of plastic cards

Policyholder

Policyholders are legal entities — banking institutions that were licensed by the Central Bank of Russia for banking operations in accordance with the legislation of the Russian Federation, which are Russian residents or representatives of nonresident banks accredited in the prescribed manner.

Subject of insurance

Property interests of the insured that do not contradict to the laws of the Russian Federation are the subject of insurance against possible losses resulting from issue of plastic cards.

Insured accident

Insurance is available against losses of the bank resulting from transactions, in the commission of which were used:

• Counterfeit bank cards
  
  Counterfeit card is a plastic card, magnetic strip of which contains false information:
  
  — information stored in the form of code on a magnetic strip of a card without knowledge or authorization of the policyholder;
  
  — information stored in the form of code on a magnetic strip of a card that was subsequently altered.



• Forged bank card
  
  Forged card — a plastic card, supposedly issued by the insurer and containing all its details, but:
  
  — the policyholder did not actually authorize its printing and/or embossment on it;
  
  — initially a properly issued card that was fraudulently altered without the knowledge of the policyholder.

Lost or stolen bank cards

In the insurance case, actual losses and additional expenses of the bank are reimbursed.