CNA Business Insurance Review

CNA Insurance via Simply Business Ratings at a Glance

Delivering business insurance solutions to businesses ranging in size as well as international companies, CNA supplies a wide array of coverage options, earning it a five-star rating in terms of product offerings. Construction, financial institutions, healthcare, law firms, life sciences, manufacturing, professional services, real estate and technology are diverse industries supported by CNA. The company employs industry-specific professionals who are crucial in customizing coverage based on the unique risks associated with your business. 

Casualty, general liability and commercial property insurance are some of the most popular coverages available through CNA. The company offers options for contract and commercial surety bonds. Business owners may also obtain management and professional liability insurance through CNA to protect from errors and omissions, allegations against directors or officers and wrongful termination. With such a wide range of coverages, CNA Insurance can be a strong choice for business owners with unique industry risks and niche insurance needs.  

CNA Connect is an insurance solution specifically designed with small business owners in mind. With CNA Connect, small business owners find BOPs with coverage for areas of risk not typically included with general commercial property insurance. Some examples might include computer equipment, accounts receivable and business personal property. Commercial property insurance policies for small business owners are available with up to $1 million in aggregate insurance limits. 

Businesses with commercial auto operations can also turn to CNA for commercial auto insurance, which covers injury and damage from hired, non-owned and owned vehicles when used for business purposes. Inland and ocean marine insurance helps mitigate risks associated with global logistics and transporting goods overseas. CNA also offers equipment breakdown insurance, which covers losses from accidental breakdown of business equipment.

As cybercrime runs rampant, CNA ensures that its customers are protected with cyber insurance. The CNA CyberPrep program helps safeguard businesses by assisting them in taking appropriate action against cyber threats. Some of the coverages available through CNA include network failure, reputational harm and e-theft. By integrating risk control resources and cyber insurance solutions, CNA supports customers in deterring cybercrime and providing coverage should they fall victim to it.

The program options available through CNA include other categories such as workers' compensation, umbrella and excess casualty and warranty insurance. Because of the size of the company and the number of products offered, business owners might want to consider turning to CNA Insurance as they begin exploring the many types of coverage available to them.

CNA Insurance offers a few unique methods that you can use to contact the customer service team.

• By phone: To get in contact with CNA’s customer service team by phone, call 1-800-CNA-2000. This is the company’s general contact line.
• Via email: To submit a general customer inquiry to CNA Insurance online, send a message to CNA_help@cna.com. This method is for general insurance inquiries and is most useful if you don’t already have a policy in place.
• In person: If you’re looking for more localized policy information, CNA Insurance’s website also provides you with phone contacts for local offices across the country. If you prefer to meet with a representative in person before signing up for coverage, its network of local offices makes the process easier.

With comprehensive information available online and a wealth of contact information, CNA Insurance earns top scores for its responsive customer service team. One way that CNA can improve its customer service team is by instituting live chat features, which are available with most competing business insurance providers.

Like most business insurance providers, CNA Insurance bases your premiums on a range of factors. Some of the things that CNA considers when it underwrites business insurance policies include the following.

• The size of your business: When your business expands and you take on more employees, the amount of risk that comes with insuring your business also increases. Additionally, as you hire more employees, you’ll need to purchase more worker’s compensation insurance, which results in a higher overall insurance bill for your company. As the size of your business increases, budget a larger percentage of your usable cash for your business insurance needs.
• The nature of your business: The industry that you work in plays a major role in the amount you’ll pay for business insurance coverage. The safety and liability risks that come along with working on a construction site are very different from those that you’d find working in a law office, so these two businesses will pay different rates for insurance. If you work in an industry with strict health and safety standards, you’ll pay more for your insurance coverage.
• Annual revenue: As your business brings in more profit, it also means that you’ll likely want to invest in an insurance policy with a higher coverage limit to remain fully protected. Like any other outlet of your business, your insurance needs will change and evolve as your business changes. Your insurance provider will likely increase the price of your coverage and recommend higher policy limits as your business revenue grows and your company expands.
• Where your business is located: When you have a commercial property, the property’s location determines how risky it is to insure. For example, if the property is located in an area that has a higher crime rate when compared to surrounding areas, you’ll pay more for insurance because there’s a greater chance you’ll need to file a claim following a break-in.

The location of your business can also positively influence your insurance expenses. For example, if your business is located close to a fire department or police station, you’ll pay less for commercial property coverage. Outfitting your commercial space with anti-burglary devices can earn you a discount on coverage with most commercial insurance providers.

CNA Insurance is a unique option for business insurance, as its large scale allows the company to offer individualized solutions not seen with smaller operations. Some of the benefits that set CNA Insurance apart from other insurance providers include the following. 

• Personalized policies for small business owners: At CNA, representatives place an emphasis on finding solutions tailored to business needs. Small business owners that choose CNA Connect are given the option to remove unnecessary coverages to lower premiums, allowing you to only pay for the coverages that you might use when you consider your industry. 

As an added benefit, there are options for flexible billing plans and pay-as-you-go workers' compensation insurance. Middle-market businesses receive the support they need as they expand their businesses with multi-industry and single-industry specialists from CNA. No matter how large or how small your business is, chances are high that CNA Insurance can tailor a policy for your needs. 

• International business insurance: CNA also provides policies for international businesses, which are typically not covered for overseas events. CNA provides solutions for global companies by delivering insurance services with the expertise to apply international regulations, reducing international risk exposure.
• Risk control solutions: CNA employs a team of risk control professionals who can provide comprehensive auditing and risk consulting for your business. This service can help you target weaknesses and liabilities in the way that you run your business and eliminate them, reducing the possibility that you’ll need to file an insurance claim. 

With CNA's focus on diversity, the company upholds an environment where collaboration and creativity are supported, resulting in more opportunities to stand out from the competition. As customers of CNA span industries, geographies and demographics, each with distinct needs, they benefit from working with a company that values their unique situations, leading to more customizable, innovative solutions.

• With CNA, claims reporting is available 24 hours a day and 7 days a week. When working with CNA, customers are connected to a local independent agent to understand their needs and set them up with a policy. You can file a claim via phone, email, fax or through CNA’s online portal. Details regarding claim processing are available in greater detail on the CNA website. In the future, CNA Insurance can follow the lead of other major insurance providers and expand its customer service offering to include live chat functionality. 
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• Standard & Poor's has rated CNA with an A+ (Strong) rating, indicating a stable outlook. A.M. Best also gave the company a score of A (Excellent) with a stable outlook, indicating the strength of CNA's business performance. While CNA Insurance is not currently Better Business Bureau (BBB) accredited, the BBB has given the insurance company an A+ grade. This high grade may indicate that CNA Insurance is more honest and transparent in its contracts and advertising when compared to other business insurance providers operating in the same industries. 

CNA Insurance vs. Competitors

CNA Insurance is a major business insurance provider, providing a wide selection of highly customized business insurance solutions. This large insurance infrastructure provides small business owners access to personalized policy options they might not have had access to otherwise. However, CNA Insurance is not the only company providing business insurance options geared towards small operations. Nationwide companies like State Farm, The Hartford and Progressive also provide affordable commercial insurance policies.

The company that you choose to provide your small business insurance is almost as important as the policy itself. Benzinga offers reviews and insights on the following business insurance providers. Consider exploring a few of the links below before you sign up for commercial coverage. 

With over 120 years of history, CNA provides business insurance solutions to companies of all sizes and within all industries. The company has a vast product offering for numerous industries and assorted coverage options. Users benefit from solutions tailored to their unique situations, which is possible thanks to CNA Insurance’s larger corporate infrastructure. 

Focusing on diversity, CNA provides customers with innovative business insurance options. The user experience is satisfactory; however, online assistance could be improved, particularly for a business of such considerable size. With such a long history and range of business insurance choices, CNA is a reputable business insurance provider, but potential customers should keep in mind the negative experiences of some customers as seen in online reviews, and speak with an agent to learn about the ways CNA can meet their needs.