March 26, 2002, 12:00 AM

Card-not-present insurance incorporates ClearCommerce software

James Hampden Insurance will reduce by up to 25% the premiums on card-payment risk coverage for companies who use ClearCommerce Risk Management software.

Kurt Peters

Executive Editor

 

London-based James Hampden Insurance said today it will reduce by up to 25% the premiums on card-payment risk coverage for companies who use ClearCommerce Corp.’s ClearCommerce Risk Management software.

James Hampden offers insurance to businesses selling in card-not-present channels--over the Internet or by telephone and mail--to cover financial loss resulting from unusually high occurrences of fraud in card-not-present transactions. The insurance is designed to protect card accepters from targeted payment fraud schemes.

< The insurance reimburses merchants for the value of goods or services lost, shipping costs, plus any penalty charges imposed by the card company and acquiring bank for unusually high occurrences of fraud.

"Both the Underwriter and our agency find that technology exists that is effective in detecting and preventing potential fraud before the purchase is completed," said Haydn Hertz, director of James Hampden. "The ClearCommerce Risk Management solution is especially attractive to us, because the terms of the insurance policy itself can be integrated as screening rules, highlighting for the business when a transaction falls outside of the terms of the insurance policy."

 

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement