• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • WCW HOME
  • Submit a Wire!
  • Advertising
  • Media Partners
  • About
  • Contact Us

WorkCompWire

Your Trusted Source for Workers Compensation News

Enlyte
  • Workers Compensation News
    • Workers Compensation Industry News
    • Association, Rating & Research News
    • Claims, Legal, & Compliance News
    • Legislative & Regulatory News
    • Risk Management News
    • Work Force & Human Resource News
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • People On The Move

A.M. Best Affirms Financial Strength Rating for Louisiana Workers’ Compensation Corporation with a Stable Outlook; Revises Issuer Credit Rating Outlook to Negative

April 10, 2011 - WorkCompWire

OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) of Louisiana Workers’ Compensation Corporation (LWCC) (Baton Rouge, LA). The outlook for this rating is stable. Concurrently, A.M. Best has affirmed LWCC’s issuer credit rating (ICR) of “a+” and revised the outlook to negative from stable.

The affirmation of the FSR with a stable outlook recognizes LWCC’s strong level of capitalization and overall balance sheet liquidity, historically strong operating performance and established presence in its niche market providing workers’ compensation coverage in Louisiana, serving a dual role as a competitive market participant and market of last resort. The ratings further acknowledge the company’s experienced management team, conservative operating philosophy, leading market share position and sustainable competitive advantages as a not-for-profit mutual insurer.

The negative outlook on the ICR reflects LWCC’s recent deterioration in operating performance driven by underwriting losses, stemming from isolated severity claims and ongoing competitive market conditions that have significantly reduced premium volume. The outlook further considers the challenges LWCC faces to improve underwriting results in the near term, given the challenging market conditions, attributable to weak macroeconomic conditions and ongoing competition in the Louisiana workers’ compensation market.

Source: BusinessWire

Filed Under: Association, Rating & Research News, Top Stories - Recent, WCW Inner Page Featured - Recent, Workers' Compensation

Primary Sidebar

Get Our Free Newsletter:

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: WorkCompWire.com, PO Box 1114, Culver City, CA, 90232, http://www.workcompwire.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

myMatrixx

Paradigm

One Call

MTI

Follow Us on Twitter

Tweets by WorkCompWire

Workers Compensation News Topics

  • Top Stories
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • The RxProfessor
  • Industry News
  • Association, Rating & Research News
  • People On The Move
  • Claims, Legal, & Compliance News
  • Legislative & Regulatory News
  • Risk Management News
  • Work Force & Human Resource News
  • Workers’ Compensation

Wire Archives

Copyright WorkCompWire © 2023