ACA International Announces Errors & Omissions (E&O) Insurance Program

ACA International, the Association of Credit and Collection Professionals, announced today a minimal base rate increase of 5 percent to the Errors and Omission (E&O) Insurance Program offered to ACA members for the Nov. 1, 2002, renewal.

?During a time when the overall insurance industry is increasing rates by 50 to 1,000 percent, we are very proud of this achievement,? said Toni Nuernberg, Chief Operating Officer for ACA International.

ACA credits this slight increase to the significant changes the E&O Insurance Program has undergone since implementing the Collection Notice Review (CNR) Process in 2000. Under the CNR process, if a CNR attorney does not approve an agency?s notice and the agency is later sued over it, the agency will not be covered under ACA?s E&O Insurance for that claim.

?The required review and approval of notices has corrected mistakes, even minor ones, before they occur,? said Nuernberg. ?The CNR process has played an instrumental role in decreasing the number of claims being filed with the insurance company and is an excellent additional source of protection for members.?

In addition, Gulf Insurance, the carriers for ACA?s E&O Program, is allowing ACA to utilize a new credit in its E&O Insurance Program, during a time when most insurance companies are removing credits. Any ACA member who has attended an ACA International Professional Practices Management System (PPMS) Foundational Training Seminar before Nov. 1, 2002, is eligible to receive a 5 percent credit toward their E&O Insurance premium.

ACA?s E&O Insurance Program provides needed protection against claims brought by a consumer for personal injury such as libel, slander, invasion of privacy, wrongful attachment and false arrest. Coverage for alleged violations of the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) is also included to give participating agencies the security their business deserves. For more information on this program, visit ACA?s Web site at or contact ACA?s Risk Management Department at (952) 926-6547.

ACA International, formerly known as the American Collectors Association Inc., is the association of credit and collection professionals. Founded in 1939, ACA International has approximately 5,300 members, including third-party collection agencies, attorneys, credit grantors and vendor affiliates. Headquartered in Minneapolis, ACA International serves members in the United States, Canada and 58 other countries worldwide. For more information visit our new Web site at