LCTA Makes the Switch from Self-Insured to Mutual Stock Co.

After nearly three years of deliberations and planning, Louisiana’s largest self-insured fund, LCTA, is planning on transferring its business to a mutual stock company and expanding its services to other states, beginning next year. As premiums in Louisiana have continued to grow since the recession, with the latest direct written premium volume set at $812 million in 2013, coupled with declining rates, the market for workers’ compensation insurance has become steadily more competitive, especially with self-insured funds, according to Troy Prevot, executive director for ...