Liability
- Damage to third parties
- Employers' liability
- Care, custody and control as an extension
Liability for debt collection agencies
A debt collection agency works out of court: your loss does not arise from a collision or a breakage, but from a letter to the wrong person.
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Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
Almost all claims against debt collection agencies concern pure financial loss: nothing is damaged and nobody is injured, but somebody is out of pocket. A reminder for a debt that has already been paid, an increase with costs that were not allowed, a registration that was not justified. That is precisely the type of loss that ordinary public and employers' liability insurance excludes; professional indemnity cover is needed for it.
Your second risk lies in what you are not allowed to do. A debt collection agency has no official powers: no attachment, no eviction, no writ. If a letter gives the impression that those steps are already under way, that is unlawful towards the recipient within the meaning of Article 6:162 of the Dutch Civil Code, even if the debt itself is correct. The difference from a court bailiff is fundamental here.
What stays outside every policy: administrative fines and penalty payments arising from the registration requirements, deliberate wrongdoing under Article 7:952 of the Dutch Civil Code, and your client's credit risk. The fact that the debtor cannot pay is not an insurable loss.
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What does liability cover for debt collection agencies?
The structure of the cover in three parts, with an overview per situation below.
Assets and continuity
Business contents, goods and lost turnover during downtime.
- Business contents at replacement value as new
- Goods at cost price
- Business interruption or additional costs
Staff
Sickness absence, accidents and the traffic risk.
- Continued pay for 104 weeks
- Group personal accident
- WEGAS for traffic risks
What is covered
| Situation | AVB | BAV | Cyber |
|---|---|---|---|
| Injury to a visitor or customer | Yes | No | No |
| Damage to a client's property | Sometimes | No | No |
| Financial loss caused by an advisory or calculation error | No | Yes | No |
| Downtime after a ransomware attack | No | No | Yes |
| Data breach involving personal data | No | Sometimes | Yes |
| Damage to property in your care | No | No | No |
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
What does your premium depend on?
- Number of cases per year. The number of people written to determines how often a mistake can occur, more so than your turnover.
- Consumer or business collection. Stricter requirements apply to consumers as regards costs, time limits and information. That increases the risk.
- Handling client money. If you collect and pass money on yourself, the set-up of your accounts counts in the underwriting.
- Home visits. If you visit debtors at home, property damage and injury are added to the risk of financial loss.
- Number of employees. You are liable for the mistakes of your staff under Article 6:170 of the Dutch Civil Code. The number of staff counts.
- Sum insured, excess and retroactive cover. Older files can still produce a claim today; retroactive cover determines whether they are included.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
- You request a quoteWe take stock of your activities, turnover and wishes.
- We compareseveral insurers, on premium as well as conditions.
- You receive a proposalWith an explanation of the differences and the exclusions.
- We arrange the switchIncluding cancellation, so there is no gap in cover.
Why arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
9.5New policy
9.8Claims handling
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Check the debt before you write
The most common claim is a reminder sent to someone who had already paid, or to a namesake. That produces collection costs, wasted time and sometimes a registration that affects the recipient when applying for credit. Ask your client for an up-to-date balance and for supporting evidence of the debt, and record the date on which you requested it. If in doubt about the person: check first, then send.
Do not suggest powers you do not have
You may send reminders, telephone and propose a payment arrangement. You may not attach property, give notice of eviction or issue a writ. That is reserved for the court bailiff. Letters that threaten in bailiff's language when there is no enforceable judgment are unlawful under Article 6:162 of the Dutch Civil Code, even if the debt is correct. Have your standard letters reviewed periodically; things go wrong more often in the template than in the file.
Client account funds are a separate risk
If you collect on behalf of clients, money that is not yours passes through your hands. If that money sits too long because of a bookkeeping error, that is a professional error. If it disappears through the actions of an employee, it is no longer an error but fraud, and Article 7:952 of the Dutch Civil Code excludes loss caused deliberately. For the latter there is a separate fidelity or money policy. In any event keep client funds separate in your accounts.
Fines and regulatory costs are for your own account
The registration requirements for debt collection services are enforced under administrative law. A fine or penalty payment arising from that is a punishment, and punishments are not insurable. The same applies to a fine from the Autoriteit Persoonsgegevens (the Dutch data protection authority) after a data breach. What can be arranged is the assistance: the cost of defending the case often falls under the policy or under legal expenses insurance. Ask how your policy deals with that.
Frequently asked questions
This is what people ask us most.
Does public and employers' liability insurance cover an unjustified reminder?
Usually not. Public and employers' liability insurance is intended for damage to property and people. An unjustified reminder causes pure financial loss: a financial disadvantage without anything being damaged. Professional indemnity cover is needed for that. If you also make home visits, you need both, because a knocked-over laptop at a debtor's home is ordinary property damage.
What is the difference from a court bailiff?
A court bailiff is a public official with powers you do not have: issuing summonses and writs, attaching property and carrying out evictions. A debt collection agency works exclusively out of court. That difference also shapes your liability: your risk lies in the content and the tone of what you write, not in enforcing a judgment.
Is an administrative fine insured?
No. Fines and penalty payments are punishments and are not insurable, whether they come from the regulator for debt collection services or from the Autoriteit Persoonsgegevens. What can be arranged is the cost of legal defence in such proceedings. Check whether your policy covers defence costs and up to what amount. That differs from insurer to insurer.
A file from years ago has now produced a claim. Am I covered?
That depends on the form of cover. Most professional indemnity policies work on a claims-made basis: what matters is when the claim is made, not when the mistake was made. Old mistakes are then covered as long as you have retroactive cover and the circumstance was not yet known when you took out the policy. Report a threatened claim at once; Article 7:941 of the Dutch Civil Code requires it.
Every situation is different. For these situations we have a separate page.
- Compare personal liability insurance (AVP)The main page
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Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
This page was compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.