Louisiana Workers’ Compensation Corporation (LWCC) announced it will pay a $45.5 million dividend to qualifying policyholders in April.
LWCC’s board of directors declared the dividend for the calendar year 2007, and the Louisiana Department of Insurance approved it on Feb. 26, 2008. LWCC returned a $23.2 million dividend to its qualifying policyholders last year.
More than 20,000 policyholders will receive a portion of the new dividend. Individual dividend awards are based on a calculation that takes into account policyholders’ premium payments and longevity with LWCC over the last five years.
With this latest dividend, LWCC will have paid dividends to its policyholders for five consecutive years, totaling over $114 million. In keeping with its commitment to provide policyholder value, the company also has lowered rates by more than 40 percent since it began operations in 1992.
Source: LWCC, www.lwcc.com