- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: LWCC buying up more land around their office building in Baton Rouge
Posted on 6/24/21 at 9:58 am to Motorboat
Posted on 6/24/21 at 9:58 am to Motorboat
quote:
And LWCC is very wealthy because they charge high premiums to employers and are very stingy when it comes to claims. so just another insurance company...
Absolutely incorrect!
LWCC DOES charge high premiums, but they also pay dividends to the companies they insure, which are shareholders (of some sort I don't understand). Definitely not just another insurance company. It is very unique.
Posted on 6/24/21 at 10:54 am to Penrod
quote:
LWCC DOES charge high premiums, but they also pay dividends to the companies they insure, which are shareholders (of some sort I don't understand). Definitely not just another insurance company. It is very unique.
I was an adjuster for them for about 5 years and then was a commercial insurance agent for another nearly 5 (before management changed ). I had a LOT of clients with them. They are definitely not the most competitive WC carrier around and I heard plenty of bitching as an agent about they way claims were handled/settled/defended. The dividends definitely outweighed any desire to move to another carrier.
They are unique in that it is a mutual insurance company (meaning they are owned by the policyholders and paid a dividend) and was created by the state legislature under Mike Foster because comp carriers were exiting en masse due to the fact that it was not profitable for those carriers to write in Louisiana.
ETA: Not sure of their motive in buying up all the property around the main building especially since the work force has trimmed due to COVID and/or employees leaving on their own accord.
This post was edited on 6/24/21 at 10:56 am
Posted on 6/24/21 at 11:24 am to Penrod
quote:
LWCC DOES charge high premiums, but they also pay dividends to the companies they insure, which are shareholders (of some sort I don't understand). Definitely not just another insurance company. It is very unique.
Also the insurer of last resort in the state. Because of that, they're not regulated like a normal insurance company. They get to set their own rates. Most other insurance companies in the state have their rates set by NCCI.
Posted on 6/24/21 at 1:05 pm to Penrod
quote:
not just another insurance company. It is very unique.
Not really. Louisiana Workman's Comp Corp is a high risk carrier, but they are also a mutual company. This is fairly common in the insurance business
Popular
Back to top
Follow TigerDroppings for LSU Football News