About Your Carrier

CNA is an insurer comprised of a number of insurance companies. Continental Casualty Company is the CNA company that specializes in writing lawyers professional liability coverage. While your carrier is Continental Casualty Company, most people just refer to it as CNA.

It is a team effort. CNA is the underwriter that provides the contract form, the capital surplus, actuarial guidance and the expert claims management. Gilsbar is the regional administrator for the legal malpractice insurance policy and provides the consultation, underwriting services, administration, sales and program management. Each of these two partners has more than 50 years of experience in their respective roles.

A. M. Best is the definitive authority on insurance company security, and their rating system is the industry standard. Their rating has essentially two parts: financial strength and financial size. The financial strength (ability to meet its obligations) rating system is a series of 16 codes (letters and symbols), ranging from A++ (Superior) to D (Poor). The financial size categories are a series of 15 Roman Numerals that identify the statutory surplus of the carrier. These ratings range from I (less than $1 million) up to XV (greater than $2 billion). Many professionals advise that you seek a company that is rated A- VIII or higher.

The rating is A XV. The adjectives that A. M. Best uses to describe the company is "Excellent". The financial size component XV is the largest category in the system.

Admitted insurance companies follow the rules and regulations of the insurance departments of the respective states in which these companies write insurance. They also file (with those insurance departments) the rates and forms that they intend to use. Because they follow all of the requirements, they are protected by the Guarantee Associations established in the states. If a company does not want to conform to the insurance department requirements, it will operate on a non-admitted (aka surplus lines) basis. The states will tax the premiums that non-admitted companies write, and those taxes are paid by the insurance buyer. Non-admitted companies are also not protected by the Guarantee Associations.

Continental Casualty Company (CNA) is an admitted carrier.