Transaction Trends

Frates rolls out affinity insurance and benefit program for ETA members

WASHINGTON, DC ─ The Electronic Transactions Association (ETA), the global trade association of the payments technology industry, today announced a partnership with Frates Insurance and Risk Management to provide a new series of affinity programs to support payments technology companies across the country. These programs will be available as an exclusive benefit for ETA members.

“This affinity partnership enables ETA members to leverage their membership into significant potential savings on a wide range of liability and specialty insurance programs,” said Jason Oxman, CEO of ETA. “The Frates program is uniquely tailored to the needs of the payments industry.”

Liability insurance programs designed by Frates to cover the particular risks of the payments industry include: Issuer and Acquirer Liability; Regulatory and Management Liability; Cybersecurity Liability; Professional Liability; and Mergers and Acquisitions. The Frates specialty issuer and acquirer liability policies include: Bank Card Insurance; Uncollectible Chargeback Insurance; PCI Insurance; and Card-Not-Present Fraud Insurance.

ETA members will also have access to employer health and benefit plans that could reduce costs for ETA members looking for benefit options for their employees.  The Frates program also offers management of payroll, human resources, and compliance issues to Frates customers.

“Obtaining liability insurance in the payments industry can be very challenging, because most insurance carriers do not understand the industry. This puts companies in jeopardy of having policies that do not adequately cover their operations,” said Kevin Mendizabal of Frates.  “Thanks to our expansive industry portfolio and our partnership with ETA, we are able to provide a comprehensive program that we think will benefit ETA member companies.”

Information about the affinity program can be found at:  www.etaaffinityprogram.com. You can also contact Kevin Mendizabal at [email protected].

For media inquiries, contact Meghan Cieslak, 202-677-7406, [email protected].

About ETA

The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $5 trillion in purchases in the U.S. and deploying payments innovations to merchants and consumers.