Debt collection agencies have several unique exposures in addition to what may be considered standard areas for insurance coverage – From personal injury (such as libel, slander, invasion of privacy) to crime and cyber, you face a unique risk landscape.  Regulatory scrutiny via the Telephone Consumer Protection Act (TCPA), Fair Debt Collection Practices Act (FDCPA), and Fair Credit Reporting Act (FCRA), also add to the landscape. 

And with a treasure trove of personal information, you have a lot to protect when it comes to today’s data risks:

  • The average total cost of a data breach in 2020 was $3.86 million according to research conducted by the Ponemon Institute and published by IBM.
  • The average ransom demand increased 20% in the latter half of 2021.2

You need a partner to help manage and minimize your unique risks.  PDCM brings over 30 years of experience servicing the debt collection space…  It’s not about working harder.  It’s about working smarter.  Contact PDCM for more information.

1 Cost of a Data Breach Report; Ponemon Institute; IBM Security; July 2020

2 2022 Cyber Claims Report; Coalition

Collection Agencies