The Louisiana Workers’ Compensation Corporation (LWCC) was recognized as being one of the top 50 property and casualty insurers in the nation by Ward Group, a Cincinnati-based management consulting firm specializing in the insurance industry. According to the LWCC it was chosen as a Ward’s 50 company from more than 2,700 property and casualty companies in the U.S.
LWCC’s below average operating expenses, good loss ratios, sufficient reinsurance package, consistently stable performance and good surplus were cited as reasons the company landed on the Ward’s 50 list.
Other winners on the list included Chubb Insurance Group, Progressive Casualty Group, Prudential Property and Casualty, Allstate Insurance Company, Travelers Insurance Group and GEICO.
LWCC was created in 1992 to revitalize Louisiana’s failed workers’ comp system. A private, nonprofit mutual insurance company that writes workers’ compensation for Louisiana businesses, LWCC is a $180 million company with more than $270 million in surplus. The corporation is the state’s largest writer of workers’ compensation insurance, covering 34 percent of the state’s insured market.
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