We think about insurance differently

Cornerstone’s in-house insurance agency, Integrity First Insurance, specializes in coverage for financial services and technology firms. We leverage our relationships with global insurance brokerages, giving you the buying power of a large broker with the responsive customer service of a local agent. We work to shop the insurance market and provide you with the best available value in coverage and pricing.

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Here are some of the types of policies we offer:

Errors & Omissions (E&O)

Also called professional liability – can protect professionals from defense costs and damages stemming from lawsuits related to their services. Even frivolous lawsuits can be costly to defend and settle, and you need quick access to experienced and affordable defense counsel to help get them resolved efficiently and favorably.

Cyber Liability/Data Breach

Data breaches, ransomware attacks and other cyber hacking incidents have risen exponentially in recent years. A robust cyber liability policy can help your business survive these incidents and may include coverage for breach response, forensics, ransom payments, business interruption and numerous other expenses.

Employment Practices Liability (EPL)

An EPL policy defends the company against lawsuits from employees. Some claim examples could be allegations of wrongful termination, sexual harassment, discrimination or retaliation.

Directors & Officers (D&O)

D&O coverage is commonly packaged with employment practices liability. It covers company officers for mismanagement lawsuits from investors and shareholders.

Employee Dishonesty/Crime

This is sometimes called employee theft or fidelity coverage. The policy is designed to cover the company if an employee steals funds or other items of value. Some crime policies may cover theft of a client’s funds as well, if the form includes 3rd party coverage.

Lawyer Professional Liability (LPL)

Lawyer professional policies defend attorneys against claims alleging legal malpractice, incorrect legal advice and more.

General Liability and Property

These are commonly packaged together into a Business Owner Policy (BOP), which includes property coverage for office contents. General liability typically covers claims of bodily injury, property damage and personal injury matters such as libel or slander.

Workers’ Compensation

Covers employees who get hurt on the job. Another component of this coverage is Employers Liability, which protects the company if the worker sues based on their injury. Workers’ comp is required by states depending on the number of employees; this threshold varies per state.

Health Insurance

We partner with OneDigital, one of the largest benefits consulting firms, to offer health insurance plans and ancillary benefits.

Technology Errors & Omissions

Tech E&O is designed specifically for technology firms such as software companies, cloud hosts or IT providers.

Umbrella/Excess

This can be written to add higher limits over another policy or policies. It is most common for contracts to require an umbrella over the general liability coverage, but it is becoming more common to add excess for E&O and cyber policies to obtain higher limits on client and vendor contracts.

Frequently Asked Questions

Why do I need to use a specialized insurance agent?

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.

Why should I use Cornerstone for my insurance policies?

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.

How much does E&O insurance cost?

E&O premiums vary widely in the collections industry. Factors determining the premium include revenues, number of employees, and the applicant’s claim history.

What insurance companies do you use?

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.

How can I get a cyber liability/data breach quote?

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.

Can I use Cornerstone for insurance if I don’t use them for licensing?

Yes- these are two separate services that are not packaged together.

How can I get a quote?

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.

Insurance

No one knows E&O policy coverage for the ARM industry better than us.