Louisiana Workers’ Compensation Corporation (LWCC) has declared a 2013 dividend of $69.1 million, bringing the cumulative total dividend over the past 11 years to more than $300 million.
The dividend, the company’s largest to date, will be paid to qualifying policyholders in April.
More than 16,000 policyholders will receive a portion of this dividend. Individual dividend awards are based on a calculation that takes into account policyholders’ premium and longevity with LWCC over the last five years.
The 2013 dividend is the result of several contributing factors. LWCC policyholders’ employees experienced fewer than expected work-related accidents during the year. The number of catastrophic injuries was also lower than typically experienced in a calendar year. Additionally, the company’s investment portfolio continued to outperform when compared to industry peers.
LWCC (www.lwcc.com) is a private, nonprofit mutual insurance company that is the largest writer of workers’ compensation insurance in Louisiana.