"The management liability business has grown unnecessarily complicated, so we decided to upgrade our modular platform to simplify our product offerings and agent and broker interactions," said Paul Larson, Senior Vice President, Financial Institutions, Management Liability and Miscellaneous Professional Liability, CNA. "We didn't set out to just make a product to sell; we wanted Epack 3 to set us apart as the easiest carrier to do business with."
Epack 3's initial launch offers six optional coverage parts: Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime, Kidnap Ransom and Extortion, and Non-Profit Directors and Officers Liability. CNA is actively working on additional coverage parts for launch in 2020 to further expand the breadth and scope of Epack 3.
The policy is now available in 43 states. It is available for new business quotes today and renewal business for phase one coverage parts in December.
About CNA
CNA is one of the largest U.S. commercial property and casualty insurance companies. CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, backed by more than 120 years of experience and more than $45 billion of assets. For more information about CNA, visit our website at www.cna.com.