Never known for blending in, CNA Insurance sits atop the Chicago, Illinois skyline with an over 600-feet building. Just like its company emblem, it too sports the bright red trademark color. However, the size and location of its headquarters is not the only reason why CNA stands out. Listed on the New York Stock Exchange (under the symbol “CNA”), it employs roughly 7,500 employees and pumps out nearly $10 billion in revenue every year. However, it is important to keep in mind that while these numbers are impressive they are dwarfed by the giants in the industry such as Allstate, State Farm, and Travelers, to name a few. Finally, CNA Insurance is itself mostly owed by a holding company, Loews Corporation, that invests in a diversified group of publicly traded companies.
Since its birth over 100 years ago, CNA Insurance has made a reputation for catering products and services to businesses and professionals. In the United States, it provides over 1 million of them with property and casualty insurance in the commercial setting. It also offers a number of common financial services to companies, including some of the following:
- General Commercial Liability Insurance
- Directors and Officers Liability Insurance
- Workers Compensation Insurance
- Commercial Automobile Insurance
Finally, it also customizes a number of solutions for special circumstances, such as cyber liability, surety issues, equipment problems, and international complications. Like many other insurers, in all the things it does, it gets sued. What follows now is a review of its litigation (jury awards and settlement amounts) over the last ten years (since 2005). This will show the pressure points within the edifice of CNA and instruct future plaintiffs where to put the hammer. Litigation against CNA Insurance
Surprisingly, compared to other insurers, plaintiffs have had poor results against CNA Insurance in the courtroom. This is surprising because many of these insured plaintiffs are businessmen and women. So, you would expect a certain level of sophistication as well as a correspondingly higher level of success when it came down to litigation. But that is not the case. Additionally, while insurance matters dominated the topic of most cases against CNA, there was also a higher than normal number of corporate and employment cases, compared to other insurers. This could be attributed to the fact that CNA’s main customer base is actually composed of businesses.
In the insurance category of cases that CNA had, many plaintiffs struck out more than normal compared to their counterparts against other insurers. Where the norm might be closer to twenty-five percent (25%), here roughly thirty-six percent (36%) of plaintiffs received nothing. Combined with a high number that recovered under one hundred thousand dollars (34%), this shows us that CNA is very effective in stifling out jury settlements and awards. Though the number of people who received more than one million dollars was on the high end-10%-only 30% actually got more than one hundred thousand dollars and this is low by comparison to litigation in the insurance industry.
The facts for automobile cases against CNA are even more unnerving for would-be plaintiffs. Those receiving nothing was 30% which while lower than the general insurance category is still worse than the typical average against other insurers (normally around 25%). Also, those recovering something less than one hundred thousand dollars was 47%. This combined figure (77%) of those receiving nothing or less than one hundred thousand dollars paints a very bleak picture. Plus, only 3% of plaintiffs against CNA Insurance garnered more than one million dollars. So, while many cases took place in Illinois because CNA is located there, in most instances, it was all for naught!Doing it the Right Way: Receiving Justice from CNA For Personal Injuries
The review of jury awards and settlement amounts against CNA Insurance immediately above demonstrates that while significant recovery is possible, it is not easy. There is a right way and a wrong way to go about it. Now, let’s talk about the right way. First, following an accident or controversy, record all facts even ones that you do not think are relevant at the time. It is hard to determine what is important or not in the heat of the moment so just write everything down so you can decide later what counts.
Second, file a claim with CNA. You can do so (for auto claims) by phone at 1-877-262-2727, by fax at 1-800-953-7389, by logging onto their website at www.cna.com or by emailing them at firstname.lastname@example.org. Following this filing, CNA will typically investigate the matter and then offer a compromise amount. Many times, this figure will be lower than the total cost of the incident (including property damage, medical bills, etc,). This happens because for every dime that CNA gives out in settlement, it loses.
Allow Our Chicago Car Accident Attorneys to Battle For Your Legal Rights When Dealing With a CNA Accident and Injury Claim
Therefore, you need competent legal advocacy to put the facts to work to increase or maintain your settlement. The skilled auto accident attorneys at Rosenfeld Injury Lawyers, competent in insurance law, can make sure that you are not taken advantage of by any larger insurer, like CNA. Contact us today and hear about how we can help you fight CNA!