Celebrating 50 Years of Uninterrupted Coverage

A look back at the history of ACA’s Errors and Omissions Insurance program.

6/5/2019 11:00 AM

NewsCollector Magazine
Celebrating 50 Years of Uninterrupted Coverage

While ACA International is celebrating its 80th anniversary this year, the errors and omissions (E&O) program is celebrating a milestone of its own: 50 years of member coverage.

The success and longevity of ACA’s E&O program has been a joint effort. ACA, Collectors Insurance Agency Inc. (CIA), our brokers, carrier partners and defense panel all played integral parts over the years.

However, without ACA members’ support, participation and willingness to employ sound loss prevention, there wouldn’t be an E&O program.

In 1969, ACA’s first insured members simply needed to provide their name, address and employee count on the insurance application. At the time, the policy limit was $1,000 and per-claim deductibles were $30 to $85. Members paid annual premiums of $50 to $100.

By 1979, the program changed significantly. The Fair Debt Collection Practices Act had been in place for more than a year, and the E&O limit grew to $100,000.

Read more on “Celebrating 50 Years of Uninterrupted Coverage,” in the April issue of Collector magazine.

Picture above: Former ACA Insurance Department manager Samantha “Sam” Henry (right) and her assistant Darla Harmsen review files in this 1980s photo.


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