BATON ROUGE, La. (June 21, 2016) — Louisiana Workers’ Compensation Corporation (LWCC) announced today that A.M. Best has reaffirmed its financial strength rating (FSR) of “A” (Excellent) and issuer credit rating (ICR) of “a+.” A.M. Best is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus. 2016 marks the 14th consecutive year LWCC has earned an “A” rating from A.M. Best.
“We are extremely pleased to have our ratings reaffirmed by A.M. Best,” stated President and CEO Kristin Wall. “Our financial stability allows us to stay true to our commitment of providing an unparalleled customer experience to all of our stakeholders. The ‘A’ rating is a reflection of our ability to make and keep promises to Louisiana’s businesses and their employees far into the future. I am grateful to all of my colleagues at LWCC for their work and dedication so that we can maintain these excellent ratings.”
A.M. Best stated, “The ratings reflect LWCC’s excellent level of risk-adjusted capitalization, consistent operating performance and dominant position in the Louisiana workers’ compensation market. The ratings also acknowledge the company's strong claims management practices, effective loss control services and the successful track record of the executive team in managing the company's operations. LWCC maintains a unique status, playing a dual role as the residual market for workers' compensation coverage in Louisiana while also remaining a dominant insurer in the competitive market.”
For more information on the latest Best’s Ratings, as well as an overview of the rating process and methodologies, please visit www.ambest.com/ratings.
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