Professional Liability Insurance for Collection Agencies
Capitol Special Risks offers a specialized Collection Agents Insurance program designed to help agents and brokers place Professional Liability coverage for collection agencies. With increasing legal scrutiny and a growing number of lawsuits involving alleged violations of consumer protection laws, the need for this coverage has never been greater.
Why Collection Agencies Need E&O Coverage
Collection agencies face unique exposures, especially related to the Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and other consumer protection laws. Even when claims are frivolous, legal defense costs can be significant. Our program provides access to coverage that includes defense for allegations of improper collection practices, misrepresentation, and failure to comply with relevant regulations.
Ideal Accounts and Appetite
Our program is a strong fit for:
- Third-party collection agencies
- Debt buyers
- Medical collection firms
- Accounts receivable management firms
You might have a client who operates a mid-sized agency specializing in medical collections or a firm that handles delinquent retail accounts — both would be excellent candidates for this program.
Coverage Highlights and Advantages
- Professional Liability (E&O) tailored for collection agencies
- Defense coverage for alleged violations of FDCPA, FCRA, and similar consumer laws
- Coverage available through multiple carriers
- Non-admitted markets provide flexibility for complex risks
- Fast turnaround on quotes
- No broker fee
Underwriting Notes and Minimum Premiums
We understand the nuances of underwriting for collection agents and can help you navigate carrier appetites and coverage options. Minimum premiums vary based on risk profile and carrier, and our team works quickly to identify the best available terms for your client’s needs.
Available Nationwide
Capitol Special Risks provides access to this program in all 50 states, including CA, TX, NY, FL, and IL. No matter where your client operates, we have the markets and expertise to assist.
Why Work With Capitol Special Risks
As a wholesale broker with deep experience in niche professional liability markets, Capitol Special Risks knows where and how to place difficult collection agency risks. Our strong carrier relationships and focused underwriting approach allow us to deliver competitive, tailored solutions quickly. We support our agents with responsive service and a commitment to helping you close business efficiently — and we never charge a broker fee.
In CA, Capitol Special Risks, Inc. dba: Capitol Special Risks Insurance Service - CA Fire & Casualty Agency - #0C46094