December 29, 2014 2:39 AM ET

Insurance

Company Overview of Continental Casualty Company, Inc.

Company Overview

Continental Casualty Company, Inc. provides property and casualty insurance and underwriting services. The company also offers health, life, workers compensation, vehicle liability, property and marine, surety, title, fraternal, mortgage guarantee and medical mutual insurance services. The company was formerly known as Continental Assurance Company of North America and changed its name to Continental Casualty Company, Inc. in November 1900. Continental Casualty Company, Inc. was incorporated in 1897 and is based in Chicago, Illinois. Continental Casualty Company, Inc. operates as a subsidiary of The Continental Corporation.

333 South Wabash Avenue

Chicago, IL 60604

United States

Founded in 1897

Phone:

312-822-5000

Fax:

312-822-6419

Key Executives for Continental Casualty Company, Inc.

President
Age: 67
Director of Business Development - CNA
Compensation as of Fiscal Year 2014.

Continental Casualty Company, Inc. Key Developments

Retailer Urban Outfitters Inc. Files Lawsuit Against Continental Casualty Co

Retailer Urban Outfitters Inc. filed a lawsuit against Continental Casualty Co. alleging the insurer failed to provide full coverage for damages caused by Superstorm Sandy in 2012. Urban Outfitters alleges it suffered over $2 million in property damage and business interruption losses as a result of the storm, which hit New York and New Jersey area around Oct. 29, 2012. Continental Casualty provided a commercial property policy covering Urban Outfitters with $500 million. The lawsuit alleges that despite repeated requests, Continental failed to provide full coverage to the retailer for damages to some of it's New Jersey store locations. The complaint alleges claims for breach of contract and bad faith.

Continental Casualty Co. Faces a Lawsuit

Continental Casualty Co. is the defendant in a lawsuit that alleges the insurer failed to pay over $2.2 million in losses suffered by a company following the failure of its computer system. The plaintiff, RI Inc., d/b/a Seating Solutions, sells and installs custom spectator and sports seating. Continental insured the plaintiff under a commercial property policy. In August 2012, Seating Solutions suffered a catastrophic failure of its computer system and website, which it used in direct ordering, order processing, collections and marketing. Seating Solutions claims it suffered over $2.2 million in losses as a result of the failure, including over $1.7 in lost sales. Seating Solutions alleges Continental only made a partial payment of $149,000 and engaged in a dilatory and negligent investigation of the claim. Seating Solutions asserts a claim for breach of contract and seeks a judgment requiring Continental to pay the full damages owed.

Continental Casualty Co. Sues Over Denial of Coverage for Superstorm Sandy Damage

Continental Casualty Co. is the defendant in a lawsuit that alleges the company breached its obligations with respect to damage caused by Hurricane Sandy. The lawsuit claims the building suffered extensive damage from the storm-including damage to electrical equipment located in the building's basement-and caused business interruption when tenants evacuated the premises. The building's electricity has been turned off by order of the city until repairs can be made and certified by a licensed electrician. Continental claims that the loss was not covered because it was caused by wind and water, which is excluded under the policy.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 20, 2014
Continental Casualty Company, Inc., 70,000 Square Foot, Tier III Data Center in Aurora, Illinois
 

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