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Collateral Protection Insurance Jobs in Illinois

Vibrant Credit Union

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.

Vibrant Credit Union

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.

Vibrant Credit Union

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.

Old National Bank

ABL Collateral Analyst II

Chicago, IL · On-site

$62K - $122K/yr

... insurance. 401K, continuing education opportunities and an employee assistance program are also ... protected by law. We do not accept resumes from external staffing agencies or independent ...

Old National Bank

ABL Collateral Analyst II

Chicago, IL · On-site

$62K - $122K/yr

... insurance. 401K, continuing education opportunities and an employee assistance program are also ... protected by law. We do not accept resumes from external staffing agencies or independent ...

Dexian

Job Information Insurance Specialist

Chicago, IL · On-site

... protect the interest of the investors pursuant to the mortgages serviced for them. * The duties ... collateral for various lenders and investors. This will include, at minimum, insurance analysis ...

Dexian

Job Information Insurance Specialist

Chicago, IL · On-site

... protect the interest of the investors pursuant to the mortgages serviced for them. * The duties ... collateral for various lenders and investors. This will include, at minimum, insurance analysis ...

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All JobsCollateral Protection Insurance JobsCollateral Protection Insurance Jobs in Illinois

Collateral Protection Insurance information

How does collateral protection insurance work?

Collateral Protection Insurance (CPI) is used by insurance professionals to protect lenders' interests when borrowers default on auto or property loans. It provides coverage for the vehicle or asset in case of damage or theft, ensuring the lender's financial interest is maintained until the loan is paid off. Insurance agents often verify coverage and process claims to mitigate risk for lenders and borrowers alike.

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 jobs pay 4000 a week without a degree?

Jobs related to collateral protection insurance, such as insurance claims adjusters or specialized underwriters, can sometimes pay around $4,000 weekly, especially with experience or in high-demand markets. These roles often require industry-specific knowledge, strong analytical skills, and sometimes licensing or certifications but do not always require a college degree.

What is the highest paying insurance agent job?

The highest paying insurance agent roles are typically in specialized areas such as high-net-worth individual insurance, commercial insurance, or executive-level positions, often earning six-figure incomes. Top agents with extensive experience, strong client networks, and advanced certifications can also earn significant commissions and bonuses, increasing their overall compensation.

What is the best paying job in insurance?

In insurance, executive roles such as Chief Underwriting Officer or Chief Risk Officer tend to be the highest paying positions, often earning six-figure salaries plus bonuses. Senior underwriters and actuarial directors also earn high salaries, especially with advanced certifications and extensive experience.
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 job categories do people searching Collateral Protection Insurance jobs in Illinois look for? The top searched job categories for Collateral Protection Insurance jobs in Illinois are:
What cities in Illinois are hiring for Collateral Protection Insurance jobs? Cities in Illinois with the most Collateral Protection Insurance job openings:
Collateral Protection Insurance jobs near you

Bankruptcy Specialist - Full Time

1ST MIDAMERICA CREDIT

East Alton, IL • On-site

$18.50 - $22/hr

Full-time

Re-posted 23 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.