Chicago-based commercial lines insurer CNA announced the early release of its enhanced Business Account Package Policy (BAPP). Originally scheduled for release in late March, the company said in a statement that the product will offer more choice and flexibility in small business coverage and limits, support profitable growth in small business, and give its independent agents the ability to reach a broader small business market.
The enhanced BAPP product gives agents three levels of coverage to offer their small business clients: BAPP Basic, BAPP Classic and BAPP Choice.
The BAPP family of products has three levels of coverage, starting with the industry-competitive BAPP Basic, then moving to the enhanced package BAPP Classic, and finally the highest level of coverage and most flexible, BAPP Choice.
BAPP Basic offers a core package of coverage limits. It meets the fundamental needs of all small business owners and is competitively priced. With BAPP Basic, agents get a new entry-point into the small business market.
BAPP Classic is the current BAPP offered by CNA and has always offered all small businesses the opportunity to obtain a higher level of coverage than the industry standard BOP. BAPP Classic provides a more advanced insurance solution for a broad base of small businesses.
BAPP Choice provides policyholders with coverage specific to their needs. The Choice Endorsements are lines of coverage and limits tailored to specific industries, such as florists, architects and engineers, retail, business services and lawyers. BAPP Choice provides agents with more choices for coverage and limits so they can better offer their clients coverage tailored to their needs.
CNA independent agents will be able to quote and book BAPP Basic, BAPP Classic and the Choice Endorsements in the first quarter of 2004 via the secure, agent-focused Web site www.cnacentral.com.
For more information contact Brian Jirak, director of product management for CNA Small Business, at (312) 822-7796.
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