Continental Assurance Company of North America was founded in Detroit in 1897.[2] The purpose of the company was to provide accident and health insurance to railroad industry employees. This company then merged with the Metropolitan Accident Company, changed its name to the Continental Casualty Company, and moved to Chicago.[citation needed] It acquired National Fire Insurance Company of Hartford in 1956, and the American Casualty Company in 1963. The first letters of each of the original companies were merged to form the acronym CNA. It was then referred to as the Continental National American Group, now it simply goes by CNA.
In 1915, CCC offered the first workers' compensation insurance. In the 1920s, CCC was the first to create a co-insurance clause on homeowners' policies. In the 1950s, CCC offered the industry's first comprehensive group dental insurance. In the 1960s, CNA introduced long-term care to the industry.
CNA has insured many historical events. Over the years, CNA covered the Indianapolis 500, the World Boxing Association, the Peking Opera, the Blue Angels, and various actors and movie projects. In the 1960s, CNA covered the Beatles concert in the event of inclement weather at Shea Stadium. In the 1970s, CNA covered U.S. astronauts in their Apollo 16 and Apollo 17 voyages to the moon with a commercial special risks package.
In 1974, Loews Corporation purchased 56% of CNA stock. In 1995, CNA completed a $1.1 billion merger with The Continental Corporation. The merger was the first significant merger of two property and casualty companies in more than 25 years.
In 1999, CNA sold its personal insurance division to Allstate.That personal insurance company is now Encompass Insurance Company, a subsidiary of Allstate.In 2002, CNA exited the life, group and reinsurance business.
On January 1, 2004, CNA sold its Group Benefits division to The Hartford, based in Hartford, Connecticut.
In 2012, CNA entered the London market by buying "Hardys Underwriting" and re-branding it to CNA Hardy
From 1972 until 2018, CNA's headquarters was located at the CNA Center. In 2015, CNA made plans to move out of the CNA Center with plans to construct 151 North Franklin as its new headquarters. CNA relocated to 151 North Franklin in June 2018.
In February 2020, CNA announced the appointment of Al Miralles as the executive vice-president and chief financial officer. He succeeds James Anderson, who announced his resignation.
In March 2021, CNA was the target of a ransomware cyberattack. CNA paid more than $40 million in late March to regain control of its network after the ransomware attack. The Chicago-based company paid the hackers about two weeks after a trove of company data was stolen, and CNA officials were locked out of their network In 2022, it was reported to be the largest disclosed ransomware payment at that time.
