Who is 'they' in your equation here? Also, tell me how a small merchant services business is going to get an insurance plan that covers something like that? This isn't 3% revenue on one single event, it could be on a number of events. What if a multi-event promoter goes out of business?

This also isn't just events, that is only one example. Any 3rd party merchant service provider is going to be affected.

Back when I had my events company, we went with WePay because they were the only service at the time that offered 'free' refunds. Eventually, it became the norm. Now it seems like this policy is getting reverted and that's going to have a large impact on merchant service providers.