CNA also features PrepWise, which helps with risk assessment. This includes CyberPrep, which focuses on a business’s cyber risk in particular and is available to all CNA cyber policyholders. According to the company, CyberPrep is modeled on industry-leading cybersecurity frameworks for standards, guidelines, and best practices, including the National Institute of Standards and Technology (NIST) Cybersecurity Framework.
To help insured companies identify the strengths and weaknesses of their cybersecurity, the CNA eRiskHub web portal offers security recommendations, and a team of professionals is deployed in the case of a data breach.
Another unique offering CNA has is the School of Risk Control Excellence (SORCE). Customers can access training and other resources, such as on-demand seminars, to minimize their risk exposure and add to risk-management practices to reduce their liability. For instance, CNA offers risk assessment and reduction training for lawyers, HR, dentists, and accountants, to name a few. There is a separate charge of $14 to $40 for certain courses.
Types of Insurance
CNA gives small businesses numerous options for liability insurance, with general liability insurance at the center. Typically, CNA offers general liability insurance as part of its business owners policy. Called CNA Connect, this policy combines general liability with other types of coverage small businesses may need, including property, business income and equipment breakdown insurance.
With CNA’s general liability insurance, coverage of up to $2 million for a single incident and up to $4 million for all incidents is available, although polices and coverage can vary based on a number of factors.
CNA also offers various forms of management liability insurance, including employment practices liability, which covers employers from employee claims alleging discrimination, wrongful termination and harassment. Coverage of up to $500,000 is available for employment practices liability insurance.
CNA also offers other types of liability insurance, including cyber, media, professional (E&O) and fiduciary liability. For miscellaneous professional liability and technology E&O, CNA provides policies for small businesses that can cover up to $5 million in damages.
The rates for each liability product are based on the unique drivers of risk exposure of that type of insurance, the type of business being insured, and the location of the business, among other factors. For example, when determining rates for your general liability, CNA may consider how many square feet your business occupies, your revenue, type of business, location of business and number of employees. Only the relevant insurance policy can provide the actual terms, coverage, amounts, conditions and exclusions.
Other types of insurance available from CNA are property, commercial auto, crime, international and marine insurance. Its umbrella and excess coverage, CNA Excess Casualty, can offer up to $25 million on either a lead or excess basis.
It even offers workers’ compensation insurance. The rates are usually determined by rating bureaus, such as the National Council on Compensation Insurance or independent state rating bureaus, and approved by the individual state departments of insurance. However, CNA has some ability to deviate from these regulated rates based on your company’s overall loss experience, business type and location.
Ease of Use
CNA lets you get an immediate quote on its website. After indicating the type of coverage you are looking for, you answer several questions about your business, its location and your employees. You receive a rate quote as soon as you answer the questions.
The CNA website also gives you several ways to connect with a local agent. You can search for one by location, or you can fill out some information about your business to be matched with an agent who can best serve your needs. You can also contact CNA directly by phone or email.
Policyholders can file claims 24/7/365 by phone, fax, email or online form. CNA has regional offices throughout the U.S., Canada, and Europe, with claim professionals who provide expertise and specialize not only by type of business, but also by claim type and severity.
CNA leverages advanced analytics and technology to ensure it has the right people performing the right tasks throughout the claims process.
Customers have access to a number of in-house resources, including litigation counsel, special investigations and recovery. The special investigations unit can identify, investigate, and pursue fraud, using predictive models and machine learning to help resolve claims.
The company’s recovery services team pursues recovery opportunities against parties who were responsible for any losses. It uses predictive analytics tools and dedicated resources to identify areas of recovery and reduce costs, which can result in lower premiums.
Unlike several of the insurance companies we researched, CNA is an accredited member of the Better Business Bureau with an A+ rating.