The numbers don’t lie—credit card debt is climbing. In 2024, the average credit card balance rose 3.5% to $6,730 (Credit & Collection News), showing that more consumers are relying on credit to manage their finances. While this fuels spending, it also raises the risk of late payments, delinquencies, and charge-offs—especially for businesses offering financial services or extending credit to customers. …
Debt collection in the insurance industry presents unique challenges. Unlike traditional debt, overdue premiums, subrogation claims, and deductibles often involve complex policies, regulatory requirements, and intricate customer relationships. Insurance companies must navigate these challenges while maintaining compliance and preserving customer trust. At Caine & Weiner, we understand these industry-specific complexities and offer tailored solutions to streamline the debt recovery process. …
