At COST Financial, we are dedicated to protecting the private information of the companies and individuals we work with. We have taken important steps to protect your sensitive information.
Our clients enjoy the benefits of our comprehensive data safety and security procedures such as alarmed building security, locked-bin shredding and network firewall and anti-hacking/anti-virus prevention. Because data backups are an important and necessary step in the safety of your premium finance company, we perform daily and weekly/monthly backup routines on all company information. All document retention is done in accordance with applicable state laws. All policyholders are also protected by our Policyholder Information Security & Confidentiality procedures.
We also take additional steps:
—COST will establish on your behalf a deposit-only bank account specifically for your premium finance company into which we deposit all premium payments from insureds, and return premiums from insurance companies and other sources.
—Your customers make their payments directly to your premium finance company, and we deposit these funds DAILY into your finance company’s bank account.
—We maintain NO signature authority on any client account, and for additional security and peace of mind, we carry both Fidelity and Insurance Premium Finance Company E&O coverage.
The security of our clients is something we focus on every day. If you would like to know more about the security measures we take to protect our clients, please, give us a call at 800-844-2678 or email us at firstname.lastname@example.org.