CNA Financial lawsuit over severance pay to go on

A U.S. federal judge has denied CNA Financial Corp.'s (CNA.N: Quote, Profile, Research) request to throw out a case brought against it by former employees over severance benefits, according to a written ruling.
U.S. District Judge James Holderman in the Northern District of Illinois declined to throw out two of the three counts pending in the case, saying they must go to trial unless the parties settle, according to the ruling dated Monday.
Holderman, however, dismissed one count and "strongly urged" the two sides to discuss settlement.
Chicago-based CNA, which is mostly owned by New York conglomerate Loews Corp. (LTR.N: Quote, Profile, Research), is one of the largest commercial insurance companies in the United States,
The lawsuit was brought in December 2004 by 90 people who worked for CNA's life business operations unit, according to the ruling.
The plaintiffs worked as sales representatives, selling life insurance, long-term care insurance and annuities. Their positions were eliminated when CNA sold the unit to reinsurer Swiss Re (RUKN.VX: Quote, Profile, Research), according to the ruling.
The plaintiffs, who were fired on April 5, 2004, filed the lawsuit after CNA denied their claims to severance benefits, according to the ruling. (Reporting by Paritosh Bansal)

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