View this article online: https://www.insurancejournal.com/news/southcentral/2006/03/16/66529.htm
Louisiana Workers’ Compensation Corporation (LWCC), announced that Kristin Wall, president and chief operating officer, was named by the company’s Board of Directors to replace Steve Cavanaugh as Chief Executive Officer.
Cavanaugh tendered his resignation at the March 16 Board meeting.
LWCC is a private, nonprofit mutual insurance company that covers more than one-third of Louisiana’s workers’ comp insurance market,
“We are extremely pleased that Steve has an opportunity to take on a new role with a Dallas-based national insurance services firm as it develops a new product from the ground up. As with LWCC, Steve will be using his vision and entrepreneurial spirit to launch a new enterprise,” said Aubrey Temple, chairman of the Board.
Wall has been chief operating officer for six years and was promoted to president in 2004. Following her appointment to president of the corporation and under her direction, LWCC has received Ward’s designation as a Top 50 Property & Casualty insurance company in the nation, returned more than $25 million back to its policyholders over the past two years, and has increased the company’s profitability substantially.
“She has run the day-to-day operations brilliantly and as CEO will continue to do so for the benefit of Louisiana employers,” added Temple.
“While I’m excited about this new opportunity, I’m proud of what we’ve done at LWCC. I’ve had the benefit of working alongside Kristin for a number of years and have enjoyed working in partnership with her in building this company, and assembling an executive team that is extremely talented and dedicated. Under her leadership, this executive team has been responsible for the success of the company, and I am confident in their ability to continue to deliver on the mission of the LWCC,” Cavanaugh said.
“Our team’s efforts are paying off,” explained Wall. “We anticipate another record-setting dividend to be paid in 2006 and look forward to delivering world-class performance in the decade ahead.”
“We wish Steve all the best in his new venture and thank him for his devotion, talents and vision over the years,” Temple said. “Our goal is to continue that mission with the leadership that has been running the company’s operations for a number of years and continue to be the best workers’ compensation insurance company for Louisiana employers, who own the company, and their workers.”