CEO David Bondy takes part in a reform effort resulting in Louisiana state legislation that proved a turning point in restoring stability to the workers’ comp market. At that time workers’ comp carriers were leaving the state and many Louisiana businesses were cast routinely to the assigned-risk pool of noncompetitive and exorbitantly priced policies.
LUBA Workers’ Comp, Self-Insured Fund is founded with a handful of employees and generates $1 million in its first year of operation.
LUBA launches its first advertising campaign. The campaign, entitled "Sounds Like," rhymed "LUBA" with recognizable words like "tuba" and "scuba" to begin building name recognition across the state.
LUBA publishes its first edition of “LUBA News,” a regularly published newsletter, to its agency partners and policyholders.
LUBA grows to 53 employees and $31 million in revenue.
A.M. Best Company, the world’s oldest and most authoritative insurance-rating service, rates LUBA "A- (Excellent),” signifying robust capitalization, proficient underwriting, and excellent operating performance. The rating has been reaffirmed each year since.
LUBA converts to LUBA Casualty Insurance Company, a full-service carrier.
LUBA expands into Mississippi and Arkansas, starting its growth towards becoming a regional insurance carrier.
LUBA enters its fourth state of operation by expanding into Texas.
LUBA operates at 100 employees and $80 million in revenue.