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Collateral Protection Insurance Jobs in Illinois

Collections Officer

Moline, IL · On-site

$21.28 - $29.80/hr

Working knowledge of collateral protection insurance (CPI) Reports to * Collections Manager Environmental and Physical Activity Requirements: This job operates in a professional office environment.

Works with internal and external business partners and borrowers to better secure collateral ... insurance; short and long-term disability protection; 401(k) with PNC match, pension and stock ...

Claims Specialist I

Champaign, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Claims Specialist I

Clifton, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Claims Specialist I

Watseka, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

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Showing results 1-20

Collateral Protection Insurance information

What is the difference between Collateral Protection Insurance vs Insurance Adjuster?

AspectCollateral Protection InsuranceInsurance Adjuster
CredentialsTypically requires licensing or certification in insuranceRequires state licensing and adjuster certification
Work EnvironmentOffice, field inspections, claims processingField inspections, claims assessment, office work
Employer & IndustryInsurance companies, lenders, auto dealershipsInsurance companies, independent agencies
Search & Comparison IntentUnderstanding coverage for financed assetsEvaluating claim adjustments and settlement processes

Collateral Protection Insurance focuses on insuring financed assets like vehicles, often used by lenders. Insurance Adjusters assess claims and determine payouts. While both roles involve insurance, they serve different functions within the industry.

What is Collateral Protection Insurance (CPI)?

Collateral Protection Insurance (CPI) is a type of insurance policy that lenders purchase to protect themselves against loss or damage to property used as collateral for a loan, such as vehicles or real estate, when the borrower fails to maintain adequate insurance. If a borrower’s insurance lapses or is insufficient, the lender may buy CPI and charge the premium to the borrower. This coverage ensures the lender’s financial interest is safeguarded, but it may not provide the same coverage or benefits as standard borrower-acquired insurance.

What are some common challenges faced by professionals working in Collateral Protection Insurance (CPI) and how can they be addressed?

Professionals in Collateral Protection Insurance often encounter challenges such as managing high volumes of policy tracking, dealing with incomplete borrower information, and ensuring regulatory compliance. Overcoming these obstacles requires strong organizational skills, proficiency with specialized CPI software, and effective communication with lenders and borrowers. Staying updated on industry regulations and participating in ongoing training can also help professionals navigate these complexities and deliver excellent service.

What are the key skills and qualifications needed to thrive as a Collateral Protection Insurance Specialist, and why are they important?

To thrive as a Collateral Protection Insurance Specialist, you need a solid understanding of insurance principles, financial regulations, and risk assessment, often supported by a degree in finance, business, or a related field. Familiarity with insurance management software, loan servicing platforms, and relevant certifications such as an insurance license are typically required. Outstanding attention to detail, analytical thinking, and strong communication skills help professionals excel when analyzing policies and interacting with clients or stakeholders. These skills ensure accurate policy administration, regulatory compliance, and effective risk mitigation for lenders and their clients.
What are popular job titles related to Collateral Protection Insurance jobs in Illinois? For Collateral Protection Insurance jobs in Illinois, the most frequently searched job titles are:
What cities in Illinois are hiring for Collateral Protection Insurance jobs? Cities in Illinois with the most Collateral Protection Insurance job openings:

Bankruptcy Specialist - Full Time

1ST MIDAMERICA CREDIT

East Alton, IL • On-site

$18.50 - $22/hr

Full-time

Posted 16 days ago


Job description

Job Title: Bankruptcy Specialist

Status: Full Time

Location: East Alton, IL

Salary: $18.50 - $22.00

Benefit Information: https://www.1stmidamerica.org/docs/default-source/pdfs/benefits-summary-at-a-glance-2026.pdf

About Us:

1st MidAmerica is a trusted financial institution dedicated to providing exceptional service to our members. We pride ourselves on our commitment to the communities we serve and our focus on delivering an array of financial products for each step in their financial journey. We are currently seeking motivated and member-oriented individuals to join our team as a Bankruptcy Specialist.

Job Summary:

We are seeking a Bankruptcy Specialist to support the Financial Recovery Department by monitoring and maintaining bankruptcy and legal accounts and the processing of all bankruptcy documents.

Key Responsibilities:

- Processes all Chapter 7 and Chapter 13 bankruptcy proceeding documents.

- Processes legal accounts including correspondence with members and attorneys.

- Performs file maintenance in collection software and core processing systems pertaining to bankrupt and legal accounts.

- Communicates with attorneys and members regarding bankrupt accounts, legal accounts, insurance coverage, and collateral protection insurance.

- Maintains assigned bankruptcy logs, statistical reporting and credit bureau updates.

- Testifies at legal proceedings as required.

Qualifications:

- High school diploma or equivalent.

- Six months to two years of similar or related experience.

- Understanding of bankruptcy concepts and restrictions preferred.

- Exceptional customer service skills required.

- Strong communication skills and attention to detail.

- Experience with Microsoft products preferred.

What We Offer:

- Competitive salary and benefits.

- Opportunities for career growth.

- Supportive team environment.

Schedule:

- Monday – Friday 8:00 AM – 5:00 PM

Disclaimer: Must be able to work and travel to different credit union locations as determined by management.

1st MidAmerica is an Equal Opportunity Employer.