Finalist
Financial Services
As Kristin W. Wall became Louisiana Workers’ Compensation Corp.’s president and CEO in 2006, the insurance provider was amid deep financial troubles. LWCC was created in 1991 as an answer to the Louisiana Legislature’s need for a new workers’ compensation insurance system. From 1991 to 2006, LWCC was under the impression that it was tax-exempt, since it was created by the Legislature. However, that was not the case.
In order to save the company that Wall had worked for since its creation, the new CEO collaborated with former U.S. Senator John Breaux and the former Governor Mike Foster to create code section 501(c)(27), which allows for state created workers’ compensation reinsurance organizations to qualify for exemption from income tax. With Wall’s efforts, LWCC was named a nonprofit organization and the company’s fate was saved. Today, LWCC is the largest workers’ compensation insurance provider in Louisiana.
LWCC has reduced rates by 45 percent since 1992 due to economies of scale efficiencies. LWCC has unparalleled customer service for the industry. Individuals injured on the job have the option to choose where they want to go for their medical attention, but LWCC also offers a specialized plan through their Occupational Medical Network, which allows for individuals to receive the best care while they are injured.
Wall attributes her success at LWCC to the empowerment her employees have to do their absolute best. Wall and her employees support Kids’ Chance, which is a nonprofit organization that assists children of work-related accident victims with educational scholarships. Not only does Wall support the organization, she is the co-chair of Kids’ Chance in Louisiana.
How to reach: Louisiana Workers’ Compensation Corp., (225) 924-7788 or www.lwcc.com
