December 2019
Your monthly news & updates - February 2020
Reflecting on the life of a basketball legend

Publisher's Memo


The sudden loss of Kobe Bryant leaves us all in shock. The sports world is heartbroken and numb. Tributes to Bryant continue to pour out all around us. Athletes from all over the world have expressed what Bryant meant to them as an inspiration and cultural icon.

Bryant died at 41-years-old in the tragic accident that took his life, the life of his thirteen-year-old daughter, Gianna, and seven others. There are no words to convey the magnitude of this horrific event and the loss his wife and children are struggling to manage.

Bryant was an eighteen-time All-Star known for his remarkable scoring ability. He was also a three-time NBA title winner, a league MVP, one of the most decorated players in NBA history and winner of two Olympic Gold Medals for USA men’s basketball. Bryant was known for his relentless competitive drive and would stop at nothing to win. He pushed his teammates to be the best players they could be. 

Bryant began his NBA career at 18-years-old. We watched him grow up right before our eyes. Bryant stayed with the Los Angeles Lakers for his entire twenty-year career, which is rare today. After retiring from the NBA, he co-created the Mamba Sports Academy as a joint business venture, where young people can pursue “holistic athletic training” in a 100,000 square foot state-of-the-art facility.

But beyond all of Bryant’s professional accomplishments, first and foremost, according to all who knew him well, he was a devoted family man. Bryant was by no means perfect, but in recent years it seemed clear that his priorities were straight. His untimely, tragic death is a stark reminder that life is fragile and short. We should focus on what really matters. We can acquire a laundry list of tangible items and remarkable achievements, but if there is no one to share them with, what does it all mean?

The loss of Bryant, someone who had absolutely everything the world can offer and seemed invincible, is a strong reminder that wasting time on negative energy and negative people is simply a loss of time. Time is our most precious commodity and for many it is the least appreciated and valued. Live life to the fullest and focus on the positive. Don’t waste a minute, tomorrow is not guaranteed.

Tragedy reminds us why time well spent matters most. 

-Gary
CollectProtect: A Difference Maker in Malpractice Insurance for Collection Attorneys
Cornerstone is excited to announce the launch of CollectProtect , a new lawyer professional liability/malpractice program created to fit the needs of collection law firms. Some of the coverage features include specified coverage for FDCPA claims and mutual choice of defense counsel to ensure that you have the best representation.

Rather than a miscellaneous malpractice policy, this is a policy form created specifically for collection attorneys and geared toward those who are investing in compliance to minimize their exposure to lawsuits. Perhaps most importantly, there is safety in numbers, and this is an opportunity for the ARM industry’s law firms to unite behind one insurer who is committed to defending our industry. 

Cornerstone’s in-house insurance agency works diligently behind the scenes to develop E&O, malpractice and cyber liability options tailored for the ARM industry. Our mission is to make sure you have the coverage options you need at an affordable price. No other insurance broker focuses exclusively on serving the collections industry, and no one works harder as an advocate for your coverage needs.

CollectProtect is the latest addition to the policy options offered by Cornerstone. The new policy includes the following coverage enhancements:

1.                 EXPANDED DEFINITION OF DAMAGES : Includes fines and penalties coverage for the FDCPA/FRCA to the full limit of the policy, and a $500,000 sublimit for TCPA

2.                 AMENDED CONSENT TO SETTLE : Features a “softened” hammer clause of 50/50, giving you flexibility needed to fight frivolous claims

3.                 PRE-APPROVED DEFENSE COUNSEL : Defense heavyweight firm of Wilson Elser Moskowitz Edelman & Dicker is pre-approved defense counsel with negotiated low rates for the program

4.                 MUTUAL SELECTION OF DEFENSE COUNSEL : In tandem with the Pre-Approved Defense Counsel provision, we’ve also made overall selection of counsel mutual so you can still use your preferred defense firm where appropriate

Call Cornerstone Support at 888-445-8660 or email Ben Johnson at bjohnson@cornerstonesupport.com for a quote or more information. 
Quotes of the Day:
" Winning takes precedence over all. There’s no gray area. No almosts." -Kobe Bryant

"My parents are my backbone. Still are. They’re the only group that will support you if you score zero or you score 40." - Kobe Bryant

Featured Articles

Why the Economy Might Not Sway 2020 Voters


Views of the economy are starkly split along partisan lines, and have barely budged as growth has slowed. That could make the economy matter less in 2020 than in past elections.



Dow tumbles over 1,000 points as coronavirus crisis spirals

The Dow Jones Industrial Average is now negative for the year

U.S.  equity markets  experienced a sharp selloff on Monday after a surge in the number of  coronavirus  cases outside of China.


Where To Go Next: 27 Best Places To Travel In 2020

Where are you headed in 2020? Given that we’re on the verge of not just a new year but a new decade, this is the time to go big—and travel far—in 2020. 



The Robots Are Coming. Prepare for Trouble.

Artificial intelligence won’t eliminate every retail job, an economist says, but the future could be grim unless we start planning now.



Trade Helps U.S. Economy Grow 2.1% While Consumption Slows

U.S. consumer spending moderated and business investment continued to deteriorate at the end of 2019, while a smaller trade deficit and more home construction helped keep economic growth steady.



Calendar of Events


Commercial Collection Agencies of America
March 26th - 28th
San Francisco, CA

Commercial Law League of America
www.clla.org
May 6th - 8th
Chicago, IL

National Creditors Bar Association
www.creditorsbar.org
May 13th - 16th
Atlanta, GA