CNA Finalizes Sale of Medical Professional Liability Claims Sub to Octagon Risk Services

Chicago-based CNA Financial Corp. has completed the sale of Caronia Corp., a third-party claims administrator focused on medical professional liability, to Octagon Risk Services Inc., a subsidiary of Security Capital Corp. Octagon Risk Services Inc., is a third party-claims administrator specializing in medical professional liability and clinical risk management services.

The business sold includes third-party claims and risk management services to hospitals and healthcare systems, physician and paraprofessional groups, nursing homes, rehabilitation centers and clinics nationwide. The transaction is not expected to materially impact CNA’s net operating income or net income.

CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA services include risk management, information services, underwriting, risk control and claims administration.