Wall Promoted to President and COO of LWCC

August 25, 2004

The Board of Directors of the Louisiana Workers’ Compensation Corporation (LWCC) announced the promotion of Kristin Wall to the position of president and chief operating officer.

Wall was previously executive vice president and COO. Steve Cavanaugh remains chief executive officer of the corporation.

“This is a well-deserved promotion and signals momentous and positive change in the life of the company,” Cavanaugh said. “I look forward to working together to achieve great things as we plot the course for a second decade of outstanding service to our customers.”

The Board’s promotion of Wall acknowledges that the complexities of this competitive marketplace require a more sophisticated leadership structure, Cavanaugh said. In making the transition, Wall will be responsible for the overall operations of the company, while Cavanaugh will focus more on developing opportunities to enhance the business.

Wall joined LWCC in 1992 as managing claims attorney. In April 1996 she was promoted to general counsel where she played an integral role in developing legislation for the corporation on a state and federal level. Her efforts were critical to the passage of the federal amendment that clarified LWCC’s tax-exempt status. She became executive vice president and COO in 1998.

LWCC said since that time it has accomplished remarkable things, including: LWCC has been named as a Ward’s Top 50 property and casualty insurer for three years in a row – 2002, 2003 and 2004; LWCC has earned an A.M. Best Rating of A (Excellent); LWCC is now one of the top 200 property and casualty insurers in the nation according to an A.M. Best study ranking net written premium; Since moving to a team structure, LWCC’s market share in Louisiana is larger than their next 10 competitors combined; In 2004, LWCC paid its first ever policyholder dividend, returning $10 million to its policyholders.

“I am really looking forward to the challenges that lie ahead, and I know with our knowledgeable and devoted employees, we’ll continue to accomplish great things” Wall said.

Wall earned her Juris Doctorate from LSU Law School and is admitted to practice in both the state and federal courts of Louisiana. She is a member of the Louisiana and Baton Rouge Bar Associations, as well as the Louisiana Association of Defense Counsel. Wall is a licensed insurance agent for the state of Louisiana and is currently pursuing her CPCU designation. She is also a member of Rotary International.

LWCC is a private, nonprofit mutual insurance company. It is the state’s largest writer of workers’ compensation insurance, covering about 24,000 policyholders and 38.5 percent of the insured market in Louisiana.

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