CNA Insurance made its beginning a 100 years ago in the business of insurance. It has developed a great deal over the years, but all the way it has been able to maintain its long and proud tradition. The history of the company is a history of rich heritage, of service growth and financial health. Over all the years we have been able to maintain a strong relationship with different business partners and customers. Today the company is the 7th largest insurer of the United States, providing protection to more than a million business houses and professionals. The company has its headquarters in Chicago and many other offices all over the United States. There are many employees of the company, who are exerts in their own fields, and are able to provide a wide range of services, in order to minimize losses and make settlement claims very quickly. We have a key measure of success, and have high value products and services that are provided to all our customers.
Most of the decisions that are taken by us are a result of core values, and which consists of a brilliant combination of diversity, customer focus and team work. The staff is highly committed to all these values, thus enabling themselves to support good relationships with customers and distributors that help to retain a good customer base. The organization has a good financial rating that is provided by many rating agencies. In the year 2005 there was annual revenue if $ 10 billion, and in the financial year ended 2005, the assets exceeded an amount of $ 58 billion. There has been maintenance of strong balance sheet, with the help of an excellent investment philosophy along with a disciplined evaluation of assets and liabilities.
Today the organization has become one of the trusted names in the industry and has been meeting most of the obligations without any kind of hesitation, by making an offering of new products as business risk change.
CNA Insurance Solutions
We have more than 100 years of experience and are able to make use of this experience, to understand the unique needs of all the customers. We can make excellent partnerships with our agents, by making risk control and claim professionals, so as to have a proper understanding of the risk involved. We have agents spread all over the nation, providing insurance coverage and financial strength of an industry leader. We can make it easy for you to manage the different business risks and make control over all your assets.
CNA Long-Term Care Insurance
We are considered to be a leader in the Long Term care insurance marketplace, providing coverage to all our customers for over 30 years of service. There are a large number of long term care products provided to the employees, in order to make long term protection at group rates. There are several plans and designs that are totally based, on the customer needs.A study has been conducted, to understand the customer needs, so as to make the people make their own investment claims and care decisions, at the same time keeping the premiums at affordable rates.
More About CNA Insurance
We have been in the business since many years, but in the recent times we have entered into the business of property and casualty insurance. We have a long history of leadership but in all the years we have witnessed major setbacks also. We had suffered heavily in 1990, due to the pricing policy, and later diversified in other core areas. There was a leadership change in the year 2002, and were back into insurance excellence, that included the following features.
Our main focus has always been the life, health and reinsurance business. In the recent times the focus has been on commercial property and casualty insurance.
We have been able to strengthen most of our controls on the issues of pricing and selection of risks. We have a strong group of excellent underwriters, who help in the process of decision-making.
Balance Sheet Strengthening.
We have acted upon a comprehensive assessment of different revenue reserves. The company has also been able to add a new rigor to the process of revenue reserves.
New Leadership and Technical Talent.
We have a bunch of talented leaders and team with great technical talent. Experienced and skilled professionals run our organization.
There are many multiple, non-compatible systems that help in the tracking the performance of a business. The system is a centralized one and provides business metrics to the agency level.
We have been able to introduce many aggressive, multi step expense reduction plans, so that we have a generated savings of $250 million and more.
We have been rated as A, by A.M. Best and has been provided on the basis of financial strength. These ratings prove that we deal with many legacy reserve issues, and back up its balance sheet, with an excellent capital plan.
Solid Financial Condition.
We have strong financial position, with a low debt equity ratio. Our investment portfolio is also conservative.
CNA Insurance Going Forward
Today the company is in the best of financial position and strength. It has diversified itself in great heights, in order to meet the growing needs and demands of the customers, all across the United States. It has a very strong foundation base, and most of the leadership is based and focused on certain qualities of discipline, professional claim handling and other features. It has been more than 100 years since we are in the business, but our focus has always been the same. We are highly committed to all our customers, distributors as well as business partner. Our aim has always been to move forward and make excellent track records of success.
Terrible Long Term Health Insurance
For the last six months my uncle (who has diligently paid his CNA premiums for the last 15-20 years), has been trying to make a claim to assist with his mounting long term convalescent care. After submitting mountains of documentation and paperwork that was demanded by the insurance company, they still haven't paid a dime of what their coverage said they would pay. It appears to me that long term policies from companies like this are simply a scam. My uncle tried to be responsible but he is now simply getting burned from these scam artists.
I am in the process of contacting CNA on behalf of my mother, who has a LTC policy with CNA. Years ago my husband and I purchased these policies for ourselves. In 2009 I had to put him in a dementia care facility for the balance of his life. I was thankful we had purchased the policy. After contacting them, the forms were immediately sent. The nursing facility and I filled them out, sent them in and after the initial 30 day period I had to pay for, all checks were sent in a timely manner and the costs were covered completely. My only complaint was finding an initial contact phone number as none was included in the package. I am hoping my mothers process will go as smoothly in Florida.
Denied For Arthritis
My mother-in-law applied over seven months ago for this coverage. She's yet to get a reply except a week ago when they told her on her phone call that they denied her coverage due to arthritis. What 81 year old doesn't have this? Their health app doesn't say anything about denying you if you answer yes.
Long Term Care Insurance Cancellation
We were travelling and did not get back in time to make a payment or a timely late payment. It was my understanding that I had filled out some papers that in case I missed a payment (if I had died or was somehow otherwise incapacitated) they would contact my son to let him know a payment was due or late. This did not happen. I called the day we got back and I was told it "was too late" and we (my wife and I) needed to reapply. One month later we got "new" application papers to start the application process anew from the start. This after being a customer for over eleven years with no late payments. There was no appeal process. Talk about a total lack of customer loyalty.
Little Long Term Care Coverage
When the policy was sold, it was supposed to provide the most comprehensive plan. Since 1991 premiums have been paid on time. Now payments have been reduced to 25% and where premiums should have been reimbursed they have not. CNA acts like they want to help but no action is ever taken that pays out - regardless of how much faith you put into their system.
Long Review Process
My parents have been paying for 12 years (over $60,000 total) and can't get one cent from them. I feel sorry for elderly people trying to collect because it is so exhausting they just give up, something the company hopes you will do. They never have the stuff you submit, send it certified mail the first time or you will be sending it numerous times to stall. Your claim is given to someone different every week so it is always in review.
Waited 3 Months For Policy Papers
I signed up for the policy and then waited 3 months to receive an actual statement of my policy. During this time I received over ten bills, but no info about my policy. I called multiple times requesting this information - claims number to call, what my insurance covered, how much coverage... I finally received my information, so I called to make a payment and they'd cancelled the policy.
Stalling Tactics And Constant Excuses
CNA is absolutely the worst in getting answers or updates on whether a claim is going to be paid. We filed an initially claim back and are still waiting to hear back from management to see if its been approved. CNA's 1st excuse was that they needed all the paperwork from the nursing home and home care agency before the claim would be processed. Never mind that these are 2 separate companies, company #1 will not require reimbursement and our company is the one providing services. It took a month to collect all paperwork- at which point CNA complained that too much was sent over. Once all documentation was received, CNA said it would take 7-10 days to review it. Once the 10 days was up, it had to go to "peer review". After peer review, it goes to management for review. The 7-10 days was up 3 weeks ago. Since then, CNA has told us "I don't know what to tell you but it has been given to management to review." California law dictates that an answer needs to be given in 30 days. CNA's 30 days is now up and the answer is still the same. I would never buy any type of insurance from this company. I've dealt with many Long Term Care insurance companies & CNA has given more excuses, delays, and stall tactics.
We have been trying to help a client get her LTC benefit paid out for over 2 months now. CNA first told us that since her nursing home & home care was submitted on the same claim, the nursing home invoices & notes, doctors orders, agency notes & documents were needed. Each submission/update required a 10 business day time frame was needed to review & process the paperwork. I finally flooded them with papers, claims, documents, so they could not claim they did not receive anything. I suggest that anyone submitting any claim to CNA create a packet of everything they request and submit it each time a claim is submitted, regardless if you already sent it in. We submit a 10-15 page packet each time we request for reimbursement, so they won't hold up any payment of benefits. Its been 2 months and CNA is now telling us that they will forward the claim to be paid but it needs to have final approval. I asked how long that would take & everyone happened to be out at lunch.
Terrible Long Term Care
My mother purchased CNA Long Term Care Insurance in 1990. In 2010, her bill was sent to the wrong address and her insurance was canceled without her ever knowing she had a bill. When she finally found out that they had cancelled her insurance, she applied to have it reinstated. Her request was initially denied, but after hours of phone calls and letters to have it reinstated, they finally relented. However, she had to pay $12,573 for the 18 months she was not covered, pay an additional $198.50 in underwriting fees, and provide her medical records so that they could determine she would not need the insurance in the near future. In January of 2012, her annual premiums were increased 45%. CNA is a sleazy outfit. They know that it is not practical to cancel insurance after 22 years of paying premiums no matter how terrible the company.