OMEGAFINTECH

OMEGAFINTECH combines third‑party liability, regulatory exposure, and first‑party protection into a unified insurance solution.

Third‑Party Coverage

• Financial services liability.
• Financial technologies liability.
• Artificial intelligence liability.
• Network security liability.
• Privacy liability.

Regulatory Coverage

• Coverage supporting compliance with the Payment Services Directive (PSD2).
• Inquiry costs.
• Regulatory investigations.

First‑Party Coverage

• Incident response costs.
• Business interruption and extra expense.
• Data restoration costs.
• Bricking.
• Cyber extortion and digital crime.

OMEGAFINTECH is designed for fintech companies providing technology‑enabled financial services, including:

• Digital payments platforms, including P2P, merchant acquiring, and online payments.
• Banking‑as‑a‑Service (BaaS) providers offering banking infrastructure via APIs.
• Lending platforms, including direct lenders and marketplace models.
• WealthTech platforms like robo‑advisors, trading, and fractional investing solutions.
• Personal finance and budgeting applications combining data insights with financial products.
• Buy Now, Pay Later (BNPL) platforms facilitating point‑of‑sale installment lending.

• Up to USD $5 million in policy limits for US and international domiciled and exposed risks.
• Proprietary, tailored primary policy form.
• Risks understood and underwritten by an expert, tech‑forward underwriting team.
• Flexible underwriting approach supporting early‑stage fintechs through to consolidated platforms.
• Policy premiums payable in fiat or cryptocurrency.
• Rapid incident response and loss‑prevention services.

Claims Scenario: Digital Payments Platform Impacted by Fraud and Regulatory Action

A digital payments company offers wallet and merchant‑payment services to consumers and small businesses across multiple jurisdictions. The platform integrates AI‑driven transaction monitoring to identify suspicious activity while enabling near real‑time settlement.

A configuration failure within the fraud‑detection system allows a coordinated fraud scheme to go undetected over several days. As unauthorized transactions increase, affected users suffer financial losses and file complaints with both the platform and local regulators.

The incident triggers:

• Customer claims alleging failure to safeguard funds.
• Regulatory inquiries into transaction monitoring, operational resilience, and PSD2 compliance.
• Incident response costs to investigate, contain, and remediate the issue.
• Business interruption and reputational pressure as the platform temporarily restricts services.

OMEGAFINTECH responds by providing coverage across liability, regulatory inquiry costs, incident response expenses, and business interruption, allowing the insured to restore operations and maintain regulatory and customer confidence.