CNA Financial Reports Q2 Net Income of $70M; Reductions in Workforce to Occur

August 7, 2003

  • September 14, 2004 at 6:37 am
    ralph shaffer says:
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    Happy Birthday from CNA – We’re massively raising your long-term care insurance, because it was cheaper to stop selling your policy (since the premium we offered you in 1997 may have been set low just to lure you in) and we are now issuing a different policy to consumers. Since your policy is only held by an aging population of illness-prone folks, our claims are of course high and since we have no young, relatively healthy purchasers of your policy (we stopped issuing it without telling you in 1999) only you declining number of old folks are paying for the increasing cost of your own claims. That’s why we asked for a massive 50% increase. California only granted us 25%, but, who knows, we may be back again in the near future ready to hit you with another big increase. Again, happy birthday from CNA

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