PSD2 insurance

The ever-changing world of PSD2 compliance is rife with pitfalls. Our custom-built insurance solutions are all about dodging the dangers.

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We insure the world’s innovators


From the very beginning of the process, Superscript were knowledgeable and professional, and managed to come up with the right policy for us under very tight time frames. We will recommend them to other startups and scaleups.


PSD2 insurance FAQs

Why was PSD2 introduced?

PSD2 was implemented to help make payments safer for customers, increase the protection of sensitive consumer information and tackle payment fraud. For the companies themselves, PSD2 was created with the aim of enhancing innovation in the banking sector and creating competition.

What covers are provided in a PSD2 compliant policy?

There are three main covers provided in a PSD2 policy:

  • Professional indemnity insurance
  • Data security cover
  • Directors and officers liability insurance, which is optional

How do I know what limit I should be taking up?

The European Banking Authority (EBA) has produced some guidance on what the PII should address in order for it to be suitable for entities covered by PSD2. The EBA has also issued a formula for calculating the minimum monetary limit for insurance. We are able to advise you what limit of liability should be able to meet the EBA’s expectations.

What if I need to uplift the limit of liability part way through the policy period because our business has taken on a significant amount of new clients?

Your dedicated fintech account manager will be able to make these policy adjustments swiftly. Increases in the limit may be subject to an additional premium.

What is the minimum excess on the policy?

The excess for the policy is highly competitive, starting at £5,000 in respect of each and every claim.

What about PSD3?

The European Commission announced their plans to update PSD2 legislation in June 2023. You can read about the proposed changes in our blog. If you have any further questions, then get in touch with one of our team.

Authorised by the FCA

The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at or by calling the FCA on 0845 606 1234.

Protected by the FSCS

If you are a business with an annual turnover under £1m, charity with an annual income under £1m, or trust with net assets under £1m, then you will be entitled to compensation from the FSCS in the unlikely event we cannot meet our obligations. Full details and further information on the scheme are available at

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