LUBA Workers’ Comp rated “A- Excellent” by A.M. Best Company for the seventeenth consecutive year
Baton Rouge, La. (February 25th, 2021) – LUBA Workers’ Comp, a 30-year-old regional casualty insurance company, recently received an “A- Excellent” rating with a stable outlook from A.M. Best Company for the seventeenth consecutive year. LUBA, a Baton Rouge based regional insurance company, operates in seven states, and recently announced an acquisition of Florida based FHM Insurance Services bringing them into an additional six states.
LUBA’s A-Excellent rating is a testament to its strong operating performance, dependable claims handling practices, long-term stability, and financial fortitude. The company has carried an “A- Excellent” rating since 2003 which speaks to its reputation as a trusted insurance carrier in the marketplace. LUBA has an expansive network of independent agency partners, covers over 157,000 workers, and writes more than $80 million in written premiums.
“We are proud that this rating reflects our sound business practices and dedication to delivering genuine dependability to the agents we work with and the employers we serve,” said David Bondy, LUBA Founder and Chief Executive Officer. “This has been a tough year for many businesses and we’ve always taken seriously the trust they put in us.”
As the world’s oldest and most authoritative rating agency, A.M. Best’s Credit Ratings are benchmarks for measuring the financial strength of insurers, as well as the credit quality of their obligations. Four primary factors dictate the rating scale: operating performance, balance of sheet strength, business profile, and enterprise risk management (ERM).