Recovery/Repossession Insurance

One of the only if not the only repossession company to carry Errors and Omission Policy: We carry a comprehensive 5 million dollar Errors and Omissions Professional Liability 5 million dollar policy.


PRI is bonded, licensed and insured by Walter P Geoghan - an insurance company that specializes in vehicle recovery and repossessions.  Our insurance coverage is the most comprehensive policy in the repossession/recovery industry and includes $5,000,000.00 of insurance liability and we are bonded for $7,000,000.00.


Our insurance package includes, but is not limited to –


  • General Aggregate Liability $3,000,000.00
  • Wrongful Repossession including Drive Away $3,000,000.00
  • Garage Keepers Liability per occurrence $1,000,000.00
  • On-hook coverage per occurrence $100,000.00
  • Commercial Automobile Liability Insurance in the amount of $5,000,000.
  • Umbrella Liability Insurance with respect to Workers’ Compensation, Commercial General Liability, and Commercial Automobile Liability in the amount of $5,000,000 combined single limit.


We are bonded through The Hartford Insurance Dishonesty Bond for $1,000,000.00
We are bonded through Allied Finance Adjusters for an additional $1,000,000.00
We are bonded through the American Recovery Association for $5,000,000.00


Worker’s Compensation

In accordance with the State of New York’s laws in relation to Worker’s Compensation, PRI carries the maximum coverage ($1,000,000.00) to exceed industry, statewide, and national criteria in regards to Worker's Compensation and Employers' Liability.

***Please contact us for certificates of insurance and to be added to our policy as an additionally insured client***

Certification and Licensing


Recovery Compliance Solutions administers and monitors independent repossession vendors for compliance issues on behalf of automotive lenders throughout the United States. PRI was among the first company to recieve the group training and certification this April in Texas alonside our clients.


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PRI and our agents are CARS  certified and we are also licensed under New York State for our Private Investigators license 


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CCRS - Certified Collateral Recovery Specialists (CCRS) designates members who have completed a course of learning to further raise their standards of excellence. All PRI employees are certified under the CCRS program as well as CRA (Certified Recovery Agent) which is a new certification program developed for the field representatives working for a CCRS. Please visit http://www.riscus.com for more information on all of our certifications.


PRI is the first to recieve the ARA Accreditation Certification. The Accreditation Program curriculum includes:

  • Certified Asset Recovery Specialist (CARS) Certification Courses covering business ethics, data security, and skip tracing taught by Stamatis Ferarolis and Joe Taylor of Recovery Industry Services Company
  • Data Security and Skip Tracing Class conducted by Alex Price of MasterFiles and Michele Stuart of JAG Investigations
  • Intro to Online Collateral Remarketing lead by Zach Hallowell of OPENLANE and Rick O’Connor of SmartAuction
  • Best Practices session hosted by various regional business professionals, including DRN, the leader in license plate recognition (LPR) technology



Focused on innovation, education and its Best In Class approach, ARA developed the Accreditation Program to provide its lenders and members with the opportunity to get trained and certified.

We are also licensed by the New York City Department of Consumer Affairs and have gone through extensive investigation to receive our tow medallian.


*** We are a licensed and certified Minority-Woman Owned Business***


Associations and Affiliations

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Payback Repo is a proud member of Allied Finance Adjusters, a national trade association of automobile repossession agencies, founded in 1930 and dedicated to the advancement and continuing education of our profession.


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We are also proud members of FLACARS and we continue to generate funds for lobbying efforts, college scholarships and charities. 



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We are proud members of the American Recovery Association, the world's largest organization of collateral recovery specialists. ARA and PRI are always moving forward and look to the future with new and innovative ways to keep its members ahead in the repossession industry. 



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We are proud and active members of the Lynbrook Chamber of Commerce