NAICS UNIVERSITY · Free research for insurance agents
Collection Agencies
NAICS 561440 · United States · 2022 edition
This industry comprises establishments primarily engaged in collecting payments for claims and remitting payments collected to their clients.
Start with the work promised to the client.
For Collection Agencies, clarify the services, contracts and consequences of an error. Review professional liability / e&o, tcpa and regulatory liability, data breach / cyber. Confirm which professional activities and additional services the proposed coverage actually addresses.
Questions to ask
- Does the agency collect as a fee-based servicer on behalf of clients, or does it purchase debt portfolios as principal?
- What types of debt are collected — medical, utilities, financial, student loans, payday loans?
- What is the volume of outbound calls and texts, and does the agency use automated dialing or pre-recorded messaging systems?
- Has the agency had any FDCPA complaints, regulatory inquiries, consent orders, or class-action claims in the past five years?
- How many consumer records are maintained, and what security controls are in place?
- For Collection Agencies, what should the underwriter know about prior fdcpa class-action claims, consent orders, or regulatory enforcement actions?
- For Collection Agencies, what should the underwriter know about purchase of debt portfolios as principal (debt buyer) rather than pure fee-based collection servicer?
- For Collection Agencies, what should the underwriter know about heavy outbound automated dialing or text-messaging campaigns with potential tcpa exposure?
Activities described by this code
- Account or delinquent account collection services
- Tax collection services on a contract or fee basis
- Bill or debt collection services
Other activities to examine
- Repossessing tangible assets: 561491 — Repossession Services
- Providing financing to others by factoring accounts receivables (i.e., assuming the risk of collection and credit losses): 522299 — International, Secondary Market, and All Other Nondepository Credit Intermediation;
- Providing legal services for debt collection by offices of lawyers: 541110 — Offices of Lawyers
Census classification reference
For educational purposes only. AI-generated insurance research and automated logic can contain errors. Independently verify classification and coverage decisions.
Compare another operationInsurance operations research — draft
Collection agencies contact individuals and businesses with past-due accounts on behalf of creditors — typically healthcare providers, utilities, financial institutions, or retailers — and attempt to collect the outstanding balances, remitting recovered funds (less fees) to clients. Work is primarily telephone, mail, and electronic communication-based, conducted from office or call-center environments, and subject to significant federal and state regulation including the Fair Debt Collection Practices Act.
Questions to investigate
- Does the agency collect as a fee-based servicer on behalf of clients, or does it purchase debt portfolios as principal?
- What types of debt are collected — medical, utilities, financial, student loans, payday loans?
- What is the volume of outbound calls and texts, and does the agency use automated dialing or pre-recorded messaging systems?
- Has the agency had any FDCPA complaints, regulatory inquiries, consent orders, or class-action claims in the past five years?
This insurance research was generated in April 2026. It has not received a complete human review. The October 12, 2026 audit checked codes and titles only, not descriptions or coverage assertions.