Card-not-present fraud insurance

How it works

• The policy insures Card-Not-Present merchants for losses sustained by accepting credit card sales from a person or persons other than the authorized cardholder, which is lost, stolen or counterfeit. This includes using the credit card number without the authority of the cardholder with the intent to deceive.
• The chargeback triggers the insurance coverage. No other commercial crime policy available in the marketplace covers this exposure.

What is Web Merchant Guard?

Web Merchant Guard is an insurance policy that pays for losses that online merchants experience because of fraudulent transactions.

What types of losses are covered?

• Charges made with lost or stolen cards
• Charges made with counterfeit cards
• Charges made with cards obtained through identity theft
• Post-purchase shipping changes

Insurance is placed with an A-rated carrier

Typical Fraud Situations

Lost or Stolen Credit Card

Card is lost or stolen and used before the card owner detects it missing

Card Generators or Counterfeit Plastic Cards

Fraudulent credit card numbers are generated using programs

Identity Fraud

The card itself is not stolen; thieves assume the identity of a card holder using information gained from credit card receipts, e-mail, or phone scams. Card holders voluntarily provide personal and bank card information.

Post-Purchase “Ship To” Changes

After a valid transaction has been made by the real card owner, thieves use the site’s customer service screens to gain information necessary to “assume the identity of the order owner” and request a change in “ship to,” having the goods delivered to an alternate address of their choosing.