We know that PSD2 is a type of insurance that people often search for but it’s not something insurers usually sell as a separate product. Instead, most leading insurance companies will cover the activities associated with PSD2 within their fintech insurance products.
A fintech insurance product will have language related to PSD2 to ensure sufficient coverage for Account Information Service Providers (AISP), Payment Initiation Service Providers (PISP), Electronic Money Institutions (EMI) and Payment Institutions.
It is also a Financial Conduct Authority requirement for those applying for permissions related to AISP or PISP activities to have sufficient insurance. This will need to be shown as part of your application process and maintained at all times.
