Louisiana Workers’ Compensation Corporation (LWCC) announced it is paying a $19.6 million dividend to qualifying policyholders. LWCC’s board of directors declared the dividend, which is believed to be the largest ever paid in Louisiana by a workers’ compensation insurer, topping the $15.8 million LWCC returned to policyholders last year.
This is LWCC’s third consecutive year to pay a dividend to its policyholders, totaling $45.4 million since 2004. The company also has lowered rates by more than 34 percent since its inception in 1992. Individual dividend awards are based on a calculation that takes into account the policyholder’s longevity and safety record with LWCC over the last five years.
“We’re very pleased to be able to pay such a large dividend this year, and we hope that by returning money to our policyholders, we will help many of them who are working hard to recover from last year’s storms, ” said Kristin Wall, LWCC’s president and chief executive officer. “LWCC supports Louisiana businesses by being dedicated to workplace safety, which is ever so important as we work together to rebuild our state. We will continue to reward our customers by striving to lower our rates and, whenever possible, delivering dividends to our loyal and safe policyholders.”
Source: LWCC
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