Cornerstone Launches New E&O Program for Collectors and Debt Buyers

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Cornerstone Support, the ARM industry’s premier provider of insurance and licensing services, has developed an exclusive errors & omissions policy designed to defend against debtor lawsuits and predatory attorneys.

Cornerstone has been a trusted state licensing provider since 1998 and formed its in-house insurance agency, Integrity First Insurance, more than a decade ago.

“In recent years, collectors and debt buyers have been hurt by rising insurance premiums and coverage restrictions,” said Cornerstone owner and Executive Vice President Matt Pridemore. “We have worked diligently to reverse that trend.”

Some of the E&O coverage highlights include:

  • Policy tailored to the needs of the ARM industry
  • Coverage for claims under the FDCPA, FCRA and similar laws
  • TCPA defense coverage with option to purchase TCPA indemnity
  • Mutual choice of defense counsel
  • Coverage for contingency work or collection of owned debt
  • Defense coverage for regulatory claims
  • A (Excellent) financial rating from A.M. Best
  • Optional network security coverage endorsement
  • Option to purchase crime/employee theft coverage

“Our expertise in this class of business allows us to identify and vet insurance markets that a standard agent might not use,” Pridemore said. “That’s why it is important to let Cornerstone assist with this critical coverage for your business.”

Cornerstone is positioned to shop the entire insurance market and give firms a clear picture of their choices. They offer a full complement of business insurance products including workers’ compensation, general liability, employment practices, data breach and more.

Contact Cornerstone Support for a quote today at (888) 445-8660 or info@cornerstonesupport.com.

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Posted in Collection Laws and Regulations, Collection Technology .

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