Premium Assignment Corporation
Privacy Policy
At Premium Assignment Corporation (PAC), we recognize the sensitive nature of your personal financial information, and take every precaution to protect your privacy. When you entrust us with your financial information, you can be certain it will be used only within our strict guidelines.
What kinds of information do we collect.
Your insurance agent will provide information concerning the insurance policies that are being financed by PAC. If we need to know about your credit and repayment history, we use third-party sources such as consumer reporting agencies and other creditors.
How we use this information.
Most of the information that we collect is used for one purpose only: to help us finance your insurance premiums, easily and efficiently.
Who has access to this information.
Within PAC our employees are permitted access to the information they need to perform their jobs. We maintain strict internal policies against unauthorized disclosure or use of customer information.
Your insurance agent has access to loan balances, premium changes and payment history in order to continue to service your insurance needs. You should have received a separate privacy statement of policy from your agent.
Outside service providers may be used that provide expertise essential to our own services to function properly. For example we work with specialized firms that provide computer support and online access. As permitted by law, we disclose to these service providers the customer information necessary to perform these functions. As with all of our business partners, these companies are required to safeguard your information and use it only for authorized purposes.
Consumer reporting agencies, in accordance with industry practice and as allowed under federal and state law, are routinely provided data about consumer loan repayment and other transactions.
Courts and government entities may be provided financial information. Certain federal and state statutes may require us to disclose information about you. For example, if you are involved in litigation with a third party, we may be ordered to provide information to a court or the other litigant. In these circumstances only the specific information required by law, subpoena, or court order will be disclosed
How to opt out of having information disclosed.
If you prefer that we not disclose transaction information to your agent just call our customer service department at 1-800-342-0991 extension 15.
How we protect your privacy online.
PAC maintains physical electronic and procedural safeguards that comply with federal regulations. No one has access to this information except employees who provide services to you.