Policy Management

Online Services

Many of things you need to do to manage your Pinnacol policy can now be accomplished online, quickly and efficiently. Check out our online services today!

Payment Options

We appreciate your business, and we want it to be easy for you to work with us — right down to paying your bill. That’s why we’ve developed a menu of flexible premium payment options:

Choose Your Timing

Choose Your Method

Annual payment — Premium is based on your organization’s estimated payroll for the coming policy year. You will be billed for the total estimated annual premium 35 days in advance of your policy renewal date. This option offers simplicity: one less bill to pay and one less budget item to manage throughout the year. Installment plan — Qualifying policyholders may choose to be billed for the annual premium in installments. This option allows you to better manage your cashflow. On the installment plan, you can also change your billing cycle to the day of the month that works best for you. Monthly and quarterly payments — If your business experiences large, seasonal changes in payroll, you may qualify to pay premiums based on your actual payroll for the previous month or quarter. This option helps preserve your cashflow while ensuring the right amount of coverage throughout the year.

Electronic funds transfer (EFT) — Pay your premium by automatically transferring funds from your checking or savings account. EFT can be initiated online or by calling our customer service team, 303.361.4000 or 1.800.873.7242. Credit card payment — Pay with a corporate or personal credit card by calling our customer service team between 7 a.m. and 5 p.m., Monday through Friday. U.S. mail — If paying by mail, please keep in mind the following guidelines: Mail payments directly to the Wells Fargo Processing Center, c/o Pinnacol Assurance, Department 500, Denver, CO 80281. Write your policy number on the check, and don't forget to include a payment coupon. Allow sufficient time for posting and delivery. On average, payments are posted the day after receipt by Wells Fargo.

Premium Audits

Every Pinnacol policyholder is audited annually — but rest assured, it's fairly painless if you’re prepared. Audits ensure you pay no more and no less premium than you should, based on your actual (not estimated) payroll levels. Audits can even result in a refund to your business. Pinnacol provides a bilingual flyer on our audit process as well.

What to Expect

In addition to accuracy, our auditors' goals are to help you understand:

• How classification codes are determined for your business and workers
• How your premium is calculated
• How to forecast your future premium costs

Audits also help ensure that no other business in your industry has an unfair advantage because of incorrect classification or payroll assignments.

During an audit, the following categories of information will be reviewed:

• Ownership status
• Business operations
• Duties of employees
• Payments to subcontractors

Audit Types

Pinnacol conducts three types of audits:

Self-audit — Just follow our step-by-step instructions to complete the audit yourself, at your convenience. Self-audits can be submitted online — the fastest, easiest way to complete an audit — or mailed to Pinnacol Assurance.

Field audit — One of our auditors will visit your place of business to perform an on-site audit. Field audits can usually be completed in two hours or less.

Office audit — This audit is conducted by appointment at Pinnacol’s office. Call 303.361.4000 or 1.800.873.7242 for an appointment.

Documents to Have Ready

To ensure a smooth and speedy audit, please have the following documentation on hand:

Employee Records

• Unemployment insurance tax reports
• 941 or 943 federal tax returns, whichever you submit
• Payroll records for the audit period
• Individual earnings records

Payments to Workers Outside of Payroll

• Detailed check register and/or cancelled checks
• Cash payment journal

Subcontractor Records

• Reports that show payments to subcontractors
• Proof of workers’ compensation insurance for subcontractors
• Documentation to confirm the status of independent contractors

Policy Changes

In business, change is constant. But to properly manage your workers’ compensation policy, it’s important to notify Pinnacol immediately when certain business changes occur. The following events may trigger changes to your policy and, more important, your premium.

Notify Us Immediately About ...

Entity-Type Changes — Sole proprietorships, partnerships, limited liability companies and corporations are each viewed differently under the Workers' Compensation Act. Depending on your new entity type, you may need additional coverage or gain the option to formally reject coverage.

Ownership Changes — In any case, your workers' comp policy is a legal document that must be kept current. For those who own multiple businesses, an ownership change could allow you to combine your businesses for rating purposes. A combined rating sometimes helps to lower your overall premium.

Company-Name Changes — For legal purposes, all correspondence from Pinnacol should reflect your new name. This will also prevent confusion when presenting your proof of insurance to third parties.

Payroll Fluctuations — Payroll is one of the main factors that determine your premium rate. Please let us know if your business experiences a substantial increase or decrease in payroll.

Operational Changes — If you add a line of business, enter a new market, or even shut down a branch of your operations, your premium is likely to change. The nature of your business operations determines the classification codes used to calculate your premium.

Out-of-State Projects — If you open an out-of-state operation or accept an out-of-state project—even temporarily—please contact Pinnacol to discuss your options. Each state has its own workers' compensation laws that employers must comply with.