FOR IMMEDIATE RELEASE

October 7, 2019

Insurance Commissioner Donelon Highlights LWCC’s 2019 Dividend Payments of $187,000,000 to Policyholders

This week, policyholders of Louisiana Workers Compensation Corporation (LWCC) throughout the state are receiving dividend checks totaling $136 million. These payments were approved by the LWCC board in August 2019. Because LWCC is a non-profit mutual insurance company, it pays dividends to policyholders rather than to shareholders. For many policyholders, this is the second round of dividends received in 2019, when $51 million in payments were distributed in April 2019 as a result of the company’s activity for 2018.

“As Commissioner, I see these dividend payments of over $187 million as an extension of the promise offered to businesses who have chosen a well-managed and financially secure mutual insurance company that rewards their policyholders for not only running safe and efficient operations, but also maintaining a relationship with LWCC as their carrier,” said Donelon. “These dividend payments will reach over 20,000 policyholders that span the economic landscape of our state including large commercial, small businesses, individuals and non-profit entities providing services to our citizens.”

LWCC, headquartered in Baton Rouge, Louisiana, is a private, nonprofit mutual insurance company that is rated “A” (Excellent) by A.M. Best. LWCC employs over 240 people and serves over 20,000 policyholders and was originally chartered to provide competitive and residual market coverage since its inception in 1992. LWCC is the largest writer of workers' compensation insurance in our state and has returned $848 million to policyholders in the previous sixteen consecutive years.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.