• 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

LWCC Announces Dividend of $94 Million

April 8, 2021 - WorkCompWire

Baton Rouge, LA – LWCC recently announced that its board of directors has declared a $94 million dollar dividend for 2020 that will be distributed to approximately 20,000 Louisiana businesses and impact over 162,000 workers.

“2020 was a challenging year. The pandemic, combined with major hurricanes, caused financial strain to businesses across the state. We believe the 2020 dividend could be our most impactful one yet as our policyholders work to recover and adapt to our current environment,” said LWCC President and CEO Kristin Wall.

With this dividend, LWCC has now returned over $1.028 billion over the last 18 years to Louisiana businesses. Per an economic study by Dr. James Richardson, since 2006 the dividend program has supported an average of $47 million in annual personal earnings and a total of 16,155 jobs, including 1,543 jobs supported by the 2020 dividend alone.

As a mutual insurer, LWCC is able to focus on the long-term financial strength and stability of the organization, which allows for a strategic risk and investment approach designed to maximize dividend returns. The company’s ability to make this distribution is due to safety initiatives and efforts by policyholders and agents, which led to a low incident rate, as well as continued excellence in execution by the company’s employees.

Since its inception, average rates have decreased by 61.3% which has been driven by a focus on safety, decreasing accidents and injuries in the workplace.

All payments are scheduled to be mailed on or before April 30.

“LWCC is Louisiana Loyal, celebrating and elevating Louisiana in all that we do,” said LWCC Board Chair Angele Davis. “This dividend distribution supports the economic stability of our policyholders, and their workforce, therefore creating a stronger, safer, and more successful Louisiana.”

Source: LWCC

Filed Under: Industry News, Top Stories, 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

MSQ

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