In March, Pinnacol Assurance quickly began holding policy cancellations in recognition of the unbelievably difficult circumstances the pandemic brought to many of our mutual customers. Following our decision, the Colorado Division of Insurance issued the same guidance to all insurance carriers. On Sept. 17, the DOI issued a bulletin that allows carriers to once again begin sending cancellation notices. (You can read the bulletin here.)
While we were the first to hold cancellations, we were not the first to reinstate them. We plan to resume policy cancellations on Oct. 14. In the meantime, we're working to contact each customer who will potentially be affected by a cancellation to see who may need payment flexibility. We'll reach out to all at-risk customers with an email starting Monday, Sept. 28. Our Customer Experience team will also call customers who don't open the emails.
How you can help
When we issue cancellation notices again on Oct. 14, be aware your agency may get calls from customers, especially since many of the insurance companies you represent were also operating under the statewide cancellation freeze. There's also the potential you'll be affected financially by the loss of customer policies.
We want to partner with you to help our customers address potential cancellations early to avoid disruption later. Your agency relationship manager can provide you with a report that lists customers at risk for cancellation. Our Agent Portal can also be a great resource when you review this list for history and invoices. Please note at-risk customers will remain active until after Oct. 14.
Here's how to find customer information in the portal:
- After selecting a policy by name or policy number, choose the Policies tab to see financials, including transaction history for payments, installments, and invoices.
- The Policies tab also includes coverages and premiums. You can find audit history and endorsements there too.
Our underwriters and customer experience representatives are here to support you.They can help you or customers change invoice delivery options, make payroll adjustments and more. If you have any questions about our plan to communicate with at-risk customers, please reach out to your Pinnacol agency relationship manager.