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The professional liability market for collection agencies, debt buyers and collection attorneys is continually changing. Insurance carriers come and go, and the policy forms can vary from one year to the next with new exclusions and sublimits. If your agent does not specialize in the ARM industry, it is difficult for them to stay up to date and offer the most competitive and comprehensive policies.
It is important to use an insurance agent like Cornerstone who understands your business, the industry and the markets to clearly communicate your needs to the insurance carriers. It is also critical to use an agent who works with multiple insurance companies to give you options and keep you apprised of coverage changes that can impact your bottom line.
Specialization – We specialize in coverage exclusively for the ARM industry.
Expertise – The E&O market is constantly changing. Other agents may not be aware of all available insurance carriers, or of recent coverage changes affecting collection claims.
Price – By shopping the entire market, we use competition to drive down prices and our relationships with carriers to still offer the best value.
Access – In additional to accessing every market, our relationships with the carriers have awarded us exclusive options no other agents can access.
Investment – Cornerstone is a member of the ARM community. We reinvest money and services back into your industry and its associates.
E&O premiums vary widely in the collections industry. Factors determining the premium include revenues, number of employees, and the applicant’s claim history.
Integrity First Insurance works only with ‘A’ rated insurance carriers who have experience insuring the collections industry, including coverage for E&O claims related to the Fair Debt Collections Practices Act. Integrity First Insurance is the best choice to help collectors shop for competitive rates and save money.
An application for Cyber insurance would need to be filled out in order to get an official quote. It is possible to ballpark a price if we have a few pieces of information: projected revenue, individual consumers’ records being stored, and some basic network security and protocols in place.
Yes- these are two separate services that are not packaged together.
Send us a copy of your completed renewal application, or contact us to get an application. We will need some background information about your company and your claims history to get started on your free quote.