PRODUCTS: CNA WorldPass and CNA Passport
COMPANY: CNA
BEST RATING: A (Excellent)
AVAILABILITY: Coverage is available through appointed agents.
FOCUS: $1.6 trillion—that’s how much U.S. companies will spend on global business travel by 2020, according to the Global Business Travel Association. But commercial international exposures can extend well beyond international travel—especially for middle-market clients.
“Most clients have some kind of international exposure,” says Kathleen S. Ellis, senior vice president, CNA International Solutions. “This fact opens up a world of opportunity to discuss how to best provide coverages that fit those needs. Building expertise in preparation for those discussions is reasonable, achievable and down-right critical for agents to be successful today.”
CNA WorldPass and CNA Passport are single policies that cover financial and personal risks for international operations. The primary difference between the policies is if a client has physical operations overseas.
The policies can be tailored to include some or all of the following coverages: general and product liability, contingent auto liability, employers liability, confiscation, expropriation and nationalization, crime, boiler and machinery, commercial property and business income, kidnap & ransom, ocean cargo, and product recall expense.
New coverage highlights include trip-related accidental death and dismemberment as a value-added coverage with increased available limits, including medical limits. The policies also now leverage CNA Paramount property and general liability forms, improving coverage consistency and streamlining policy options. A basket of property coverages are available under a single limit at no additional charge.
The policies also include a variety of support services:
Risk control professionals. Clients have access to certified risk control professionals, risk mitigation programs and online resources that protect against exposures that could disrupt operations. CNA risk control consultants offer knowledge and understanding of local laws, regulations and issues. With multinational risk control representation, CNA can provide services that adapt to customers’ needs as they expand.
Local claims handling. After the client reports a claim to a number available 24/7, the claim is promptly assigned to a highly experienced claim professional who specializes in handling claims for the specific line of business.
CNA Companion Services®. CNA Companion Services provides emergency medical, personal, legal and travel assistance services to any CNA Passport®-insured traveler leaving the country on business. Services are available 24/7 from anywhere in the world.
Emergency medical assistance services include medical evacuation and repatriation, medical referral/medical monitoring, emergency medical payments, repatriation of remains, replacement of medication and eyeglasses, return of traveling companion, return of dependent children, and visit of a family member or friend. Personal assistance services include message relay, travel arrangements, emergency cash, location of lost items/luggage, and interpretation and translation services.
UNDERWRITING: Even though most, if not all, middle-market clients have international exposures, a number continue to utilize their domestic policies to pick up the international component without a specific solution. Underwriters need clients to answer a few basic questions, such as:
- Do you own locations abroad?
- What countries do you sell to?
- Do your employees travel for business? Where and for how long?
“International is similar to domestic coverage—insurance is insurance,” says Chris Brutzman, assistant vice president, international product leader at CNA. “The things we ask are similar to what agents are used to in the states. The difference is the countries that are involved. Certain countries require that you get local admitted paper in place. It really does vary from account to account.”
Brutzman says agents shouldn’t discount the future value of an entry-level international policy. “You never know which international accounts will grow into bigger accounts. I’ve had accounts that started out at $2,500 and within two years were in the six figures for premium because whatever product they were selling took off,” he says. “That small travel policy where it was one salesman trying to close a contract overseas turns into $100,000 in premium.”
MIMINUM PREMIUM: $2,500.
TARGET: Customer segments including education, energy, financial, health care, manufacturing, professional services, real estate, retail, technology and wholesale distribution.
COVERAGE TERRITORY: Worldwide excluding U.S., territories, Canada and OFAC.
CONTACT: Chris Brutzman, assistant vice president, international product leader; 500 College Road East, Suite 401, Princeton, NJ 08540; 609-524-6571.
Katie Butler is IA editor in chief.
