Just like with any business nowadays, ATMs come with their risks as well. If you own ATM machine(s) or just operate it, then you need to be protected by quality insurance programs offered by reliable insurance providers. Whether you are an ATM owner, ATM services company, or security and logistics company performing the cash-in-transit role for an ATM route, it is essential that you have comprehensive ATM machine insurance coverage to provide you broad protection against natural happenings (floods, earthquakes, etc.), vandalism, theft, data, and network breaches.
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In today’s world, people do not carry large amounts of cash. It is not just for cash withdrawals only, but for all other bank-related tasks like cash deposits, cheques, balances and account transfer, that we rely on ATM machines. The growing trend suggests that people do not tend to go visit their bank branch very often and find it convenient to conduct their banking through digital banking or ATM machines. With many innovations being introduced in modern ATMs including smart banking features, we expect to see the importance and reliance on ATM machines to grow, along with the number of machines and ATM routes.
Therefore, it is very essential for everyone associated with the ATM industry to understand the risks involved and how to tackle these potential issues safely and securely. There are three major types of ATM threats or focus areas:
- Physical threats which include physical risks to ATM machines and its hardware
- Network or logistical security which covers IT infrastructure, securing privileged access and protection from malware
- Skimming and ATM Fraud which involves criminals trying to steal card data or taking control of their cards
We will discuss the above mentioned ATM vulnerabilities in detail, case by case, at another time. But the wide-ranging threats are real and criminals are getting sophisticated every day employing increasing technical and complex means of stealing money off ATM machines or networks. With this current scenario, ATM insurance and threat risk management hold significant importance and thus, these cannot be overlooked.
A broad ATM Risk Insurance program protects ATM owners against any losses due to damages or problems to the machine hardware and the cash it contains. A good, reliable insurer will provide you with broad coverage against both external attackers and your own employees, and get your insurance claims and damages processed quickly through an efficient process.
If you work with ACE ATM, you do not have to worry about these threats and risks to your ATM business as we work with reliable insurance providers are quick and effective with your claims. With every free ATM placement with ACE ATM, you get free ATM Machine Insurance!
Although physical ATM theft or vandalism is rare, we help keep you covered nevertheless! In the event of a theft, we help cover damages not covered by your regular insurance. ACE ATMs will ensure that you get comprehensive coverage on machines you buy from us. We will also ensure that claims are processed and dealt with promptly.
Speak to one of our project specialists to find out more about how we protect you against many different types of ATM threats!