Baton Rouge, LA (WorkersCompensation.com) - LWCC's board of directors announced today that they are expediting the distribution of the company's annual dividend in response to the Covid-19 crisis. LWCC's purpose is to help Louisiana thrive and in this time of adversity, the workers' comp insurance company will do so by putting $86 million back into the state's economy.
Approximately 20,000 businesses across Louisiana will receive a dividend check. These businesses employ over 165,000 Louisiana workers. All payments are scheduled to be mailed on or before April 10.
“LWCC'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," said LWCC President and CEO Kristin Wall. “Through partnership from our agents, we are confident we can positively impact Louisiana businesses and workers by supporting the economic stability of the state. Our citizens and businesses are resilient, and together we will get through this.”
Over the last 17 years, LWCC has returned $934 million to Louisiana businesses through the company's dividend program. As a mutual insurance company, LWCC is able to share profits with policyholders when it achieves strong financial results.
“LWCC's vision is to be a catalyst for elevating Louisiana's position in America and we will continue to explore ways in which we can help Louisiana thrive in this time of need,” said LWCC Board Chairman Angele Davis. “LWCC is proud to be Louisiana Loyal and hopes to see Louisiana-based businesses continue to do what they can to support this great state now and always.”
LWCC is a champion of Louisiana business and proud to be headquartered in the state capital, Baton Rouge. As a model single-state, private mutual workers' comp company, we promote safety, security, and stability in our state. LWCC is dedicated to excellence in execution from underwriting to life-long care of injured workers. We are proud to partner with our agents and together deliver outstanding service to our policyholders and their workers. Our commitment is to be there for Louisiana. Always. Our mission is to help Louisiana thrive by bettering our state one business and one worker at a time. LWCC has been recognized by industry leading benchmarker, AON, and named to the Ward's 50® group of top-performing insurance companies for achieving outstanding results in the areas of safety, consistency, and performance over a five-year period, 2014-2018. For more information on the Corporation and its services, please visit www.lwcc.com.
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