North American Data Security RPG (the "Company") is a risk purchasing group formed in Michigan and authorized under the Liability Risk Retention Act (the "LRRA"), which is a federal law enacted in 1986 to facilitate access to liability insurance on a more cost-efficient basis. As a risk purchasing group and pursuant to the LRRA, the Company is permitted to collectively purchase liability insurance on behalf of group members to cover their similar exposures that result from the members' common practices or activities.
The Company purchases liability insurance from one or more insurance carrier(s) with an AM Best rating of "A" or better.
The annual aggregate limit of liability per business is $100,000.
Any Level 2, 3 or 4 merchant account is eligible, provided the merchant account has not already suffered a data compromise.
Level 1 merchant accounts are not eligible.
For a brief overview of the program click HERE.
*The information provided in this FAQ and brochure is for general information purposes only. The actual policy should be reviewed for specific terms, conditions, limitations, and exclusions that will govern in the event of loss.