Allied Finance Adjusters Conference, Inc.

RSIG Repossession Certification Training

The repossession industry has grown and evolved over many years. With that growth has come both positive and negative changes that have impacted our industry. One of the more substantial impacts has been an increase in repossession related insurance claims. In recent years, the number of claims has risen as well as the dollar amounts paid out for these claims. This increase has had a trickle down effect on repossession service providers and you as lending institution “clients”. These losses impact all of us, both directly and indirectly. When insurance claims go up so do the premiums. The end result is that the cost of operation for a legitimate repossession company goes up. Over time, these rising operational costs eventually impact the client, in the form of a higher invoice for services. This same example holds true for repossession related law suits. More times than not, what impacts a repossession company in the form of a lawsuit will also impact the lending institution that assigned them the work. It has never been more important than right now to take a pro-active approach to minimize this trend.

As leaders of an industry, we have the responsibility to serve our membership and our clients in the most responsible capacity that we can. At Allied, we have adopted a membership policy that only allows qualified operators who possess the correct licensing in their respective State. Our members must meet strict underwriting guidelines. These guidelines include but are not limited to a credit check and a criminal background investigation. Because we provide our clients with a one million dollar client protection bond, our members must be bondable. Our members must possess the correct industry standard insurance coverages. They must possess the correct equipment to provide repossession services and have an acceptable business location from which to conduct that business. Once a member is approved in to our association, they must perform their services within our code of ethics and the by-laws of our association. Additionally, the member is required to become “certified” in the State that he or she operates in by the prestigious RSIG “States Specific Repossession Certification Course”, provided the course is offered in the State in which they operate.

Like Allied, RSIG has a commitment to professionalism in our industry. We share the common interests of industry training and education. RSIG has made this training available to the entire industry no matter who their insurance carrier is, what trade association they belong to or which lending institutions they are employed by. It is through this training and education that we minimize the potential loss exposures of the repossession process for our businesses, our clients and our insurance carriers. Additionally, training and education carries with it the added benefit of minimizing the potential for injury or death to the repossessor, while carrying out the duties of their job. The RSIG State specific certification courses have become recognized as the benchmark of repossession certification training. So much so that multiple State governing bodies have called upon RSIG, in request of guidance in developing their own laws and continuing education criteria.

We at Allied are proud to be the only national trade association who has adopted RSIG training as our official repossession certification program.