Louisiana comp insurer announces $94M dividend

Louisiana Workers’ Compensation Corporation’s board of directors has declared a $94 million dividend for 2020 that will be distributed to about 20,000 Louisiana businesses and affect over 162,000 workers, LWCC announced Thursday.

With this dividend, LWCC said it has now returned over $1.028 billion over the last 18 years to Louisiana businesses. According to an economic study, since 2006 the dividend program has supported an average of $47 million in annual personal earnings and a total of 16,155 jobs, including 1,543 jobs supported by the 2020 dividend alone, according to a statement.

LWCC said average rates have decreased by 61.3% since 2006, driven by a focus on safety and decreasing accidents and injuries in the workplace.