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Lower Rates and Intent to Pay a General Dividend in 2016

November 1, 2015
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Pinnacol Assurance’s board of directors has approved a 2016 decrease in workers’ compensation rates that will average -3.6 percent, surpassing the the Colorado Division of Insurance’s recommendation of a -1.9 percent change.

“Pinnacol’s ability to decrease rates is a direct result of our efforts to improve our financial performance, fewer claims, and a strong Colorado economy,” said Phil Kalin, Pinnacol’s President and CEO.

In addition to the rate decrease, Pinnacol’s Board announced its intent to issue a general divided to policyholders in 2016.

The general dividend is a portion of Pinnacol’s surplus shared with policyholders. Barring a significant and unexpected financial loss in the fourth quarter of 2015, the dividend will amount to at least $30 million and will be distributed by the end of April 2016.

Stay tuned for more details in upcoming editions of Focus.

Pinnacol Assurance assumes no responsibility for management or control of customer safety activities. Please ensure your business meets the requirements of all federal, state, and local laws, regulations, or ordinances related to workplace safety.

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