LUBA Workers' Comp

What LUBA Workers' Comp does

LUBA Workers' Comp is a private regional casualty insurance company headquartered in Baton Rouge, Louisiana, writing workers' compensation coverage across 13 southeastern states (Louisiana, Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia). Founded in 1991 by David Bondy as a group self-insurance fund during Louisiana's workers' comp crisis, the company converted in 2006 into LUBA Casualty Insurance Company, a full-service carrier. Today it serves approximately 6,100 policyholders covering over 200,000 workers, with an annual direct written premium base above the historical $80 million floor. Products are sold exclusively through select independent insurance agencies, and the company has maintained an A.M. Best 'A- (Excellent)' Financial Strength Rating continuously since 2003 (reaffirmed January 2026).

The core product is workers' compensation insurance, covering medical care, replacement income, retraining, permanent-injury compensation, and survivor benefits. Supporting services include a certified loss control / accident prevention team, flexible interest-free payment plans, multi-channel claims reporting (online, phone, email, fax, mail), and a curated LUBA Care provider network selected for return-to-work outcomes. Technology infrastructure is conventional insurance-platform tooling: the LUBA Connect web portal for agents and policyholders, the FHM Connect portal for six FHM-partnership states (added via the 2020 FHM Insurance Company acquisition and 2021 partnership operationalization), online payment via Invoice Cloud, and standard policy administration, claims, premium audit, and billing systems. Pricing is quote-based, vary by state class code, and not publicly disclosed.

The business model is recurring workers' compensation premium revenue billed monthly, distributed exclusively through contracted independent agencies. LUBA supports agents with state-assigned business development underwriters (TN/AL, OK/AR, TX, MS, LA/TX), an Interested Agency Form onboarding flow, sales and underwriting field engagement, and marketing support through newsletters, the LUBA News portal, and the LUBA HOPE community program. The company is founder-owned and founder-led, with David Bondy as CEO, F. Charles Marionneaux as President and Chairman, Steve Werner as CFO, and operating executives drawn from national carriers (Texas Mutual, CompSource Mutual). Approximately 9 of 10 policyholders renew annually, and employee headcount is in the 101–250 range.

Name

LUBA Workers' Comp

Legal name

LUBA Workers' Comp

Website

https://lubawc.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

LUBA Workers' Comp is a private regional casualty insurer founded in 1991 in Baton Rouge, Louisiana, providing workers' compensation coverage in 13 southeastern U.S. states through a network of independent insurance agencies, serving approximately 6,100 policyholders covering over 200,000 workers.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Workers’ Compensation for Small Business & Pay-As-You-Go Programs (FSAJAEAG)

Keywords

• Workers compensation insurance
• Casualty insurance carrier
• Independent agency distribution
• Loss control services
• Insurance premium underwriting

Headquarters

HQ city

Baton Rouge

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Workers' Compensation Insurance Premiums: LUBA generates revenue primarily through insurance premiums paid by policyholders for workers' compensation coverage. The company offers competitive rates, interest-free and flexible payment plans, and efficient billing and auditing services. Policies cover medical care, replacement income, retraining costs, compensation for permanent injuries, and survivor benefits.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

LUBA Workers' Comp is a regional casualty insurance carrier that underwrites and services workers' compensation coverage for employers across 13 southeastern U.S. states, distributed exclusively through select local independent insurance agencies. Around the core insurance product, LUBA provides a multi-channel claims reporting operation, a certified loss control / accident prevention service, an in-house premium audit and billing operation with interest-free payment plans, and the curated LUBA Care provider network for injured workers.

Product overview

LUBA Workers' Comp operates as a regional casualty insurance company offering a unified workers' compensation insurance product portfolio. The core offering is Workers' Compensation Insurance, supplemented by the LUBA Connect online portal for agent and policyholder access. Additional services include the LUBA Care Provider Network for medical services, Loss Control Services for workplace safety, Claims Reporting Services across multiple channels, and Premium Audit and Billing Services. The company expanded into additional states through a partnership with FHM Insurance Company, enabling coverage access in Florida, Georgia, Kentucky, North Carolina, South Carolina, and Virginia via the FHM Connect platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Insurance Workers' compensation coverage providing medical care, disability payments, rehabilitation services, and benefits for workplace injuries or illnesses across 13 southeastern U.S. states, available exclusively through select local independent insurance agencies.
• LUBA Care Provider Network Curated network of medical providers, clinics, and hospitals selected for their return-to-work philosophy and quality medical care, used by policyholders to locate treatment for injured workers.
• Loss Control Services Certified accident prevention team offering custom safety solutions, safety resources, and loss prevention consulting to help policyholders reduce workplace risks.
• Claims Reporting Services Multiple channels for reporting workplace injuries — online, telephone, email, fax, and mail — with support for medical-only, lost-time, and reporting-only claims.
• Premium Audit and Billing Services Efficient billing operations with interest-free and flexible monthly payment plans, along with premium audit services for policyholders.

Quantifiable outcome

• ~90% policyholder retention rate year over year — 9 out of 10 policyholders return to LUBA each year
• +1 more outcomes

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• FHM Insurance CompanycoreChannel Partner/ Reseller/ Distributor · 1 January 2021LUBA partnered with Florida-based FHM Insurance Company in 2021 to provide access to independent agents and policyholders in Florida, Georgia, Kentucky, North Carolina, South Carolina, and Virginia. The partnership expanded LUBA's geographic footprint beyond its original Gulf South states. FHM Connect is the associated portal for agents and policyholders in these states. LUBA Workers' Comp had also previously acquired control of FHM Insurance Company in 2020.

Scale indicators8 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• FCCI Insurance Group: Sarasota, Florida-based workers' compensation and commercial carrier serving the Southeast through independent agents. Operates in several of the same states as LUBA (FL, GA, NC, SC) and shares the WC-only / regional / agency-distributed model.
• Builders Insurance Group: Regional workers' compensation carrier headquartered in the Southeast focused on construction and trade contractors, distributed through independent agents. Highly comparable in customer mix (SMB contractors), regional concentration, and WC-only product strategy.
• Employers Holdings, Inc. (EIG): Nevada-headquartered specialty workers' compensation insurer (NYSE: EIG) serving SMB employers through independent agents. Closest publicly-traded pure-play WC peer; useful benchmark for valuation, combined ratio, and growth benchmarks against LUBA's private metrics.
• CompSource Mutual Insurance Company: Oklahoma-based workers' compensation mutual carrier serving Oklahoma and adjacent states. Direct competitor in overlapping geographies (OK, AR); LUBA's VP Sales Manager Brent Toups was previously AVP at CompSource, evidencing direct labor-market and product overlap.
• Texas Mutual Insurance Company: Texas's largest workers' compensation-only carrier, writing similar SMB and mid-market WC business across southern U.S. states. Closest comparable to LUBA in product, distribution (independent agents), and regional footprint (Texas is also in LUBA's territory), making it the most direct peer.
• CopperPoint Mutual Insurance Company: Western U.S. workers' compensation carrier (Arizona-based) writing commercial WC through independent agents. Comparable product focus (WC-only, agency distributed) and similar scale, though geographically complementary rather than overlapping.

Peers

• AmTrust Financial Services:

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights2 records

Customer concentration

• Xx.com/lubaworkerscomp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LUBA Workers' Comp