One hundred years ago, the Colorado legislature decided it was time to fix a flawed labor system. It was a system in which a workplace injury could financially devastate a worker and their family, and left employers vulnerable to potentially catastrophic losses.

The legislature's efforts resulted in the creation of the State Workers' Compensation Fund, which guaranteed that workers injured on the job would receive benefits covering lost wages and medical costs in a prompt and fair fashion, regardless of the cause of injury.

The new organization also offered stable protection to all Colorado employers at the lowest possible cost.

That fund was Pinnacol's predecessor, and 100 years later we are proud that our mission remains the same: To provide compassionate care for injured workers and cover all who walk through our doors – regardless of the risk – as well as serve as the carrier of choice for thousands of Colorado employers.

Our long history in Colorado has taught us that the business environment is constantly changing and that Pinnacol needs to change with it. We'll need to be agile and innovative as we balance strengthening our core business with diversifying our work.

We want to be more than experts in workers' comp. We want to be Colorado's business insight leader. That requires us to understand and anticipate our policyholders' needs today as well as two to three years in the future.

But it's not an easy task. Some of our policyholders can fit their entire staff in the cab of a pickup, and some have hundreds of employees at locations across the state.

From the road pavers to the trailblazers, the food purveyors to the craft brew makers, the home builders to the peach growers, our policyholders are as diverse as the Colorado landscape. And each one has unique challenges.

We're working to align our expertise in industries like oil and gas, healthcare and construction so that we can customize tools and resources to support them effectively. We'll also be better equipped to tailor coverage to fit the distinct requirements of all kinds of employers.

We are looking down the road to identify where there are natural intersections between the needs of Colorado businesses and our areas of expertise. One area we know our policyholders are interested in is the health of their employees.

Fortunately, we're not starting from scratch. Pinnacol's emphasis on health and wellness is a natural extension of our core risk management efforts. One way we can help our policyholders minimize the frequency and cost of workplace injuries is by providing support to keep their employees healthy.

Our approach includes increasing efforts to promote health and wellness, as well as creating greater alignment among workers' compensation, health insurance, healthcare providers and other resources so that we all can do a better job meeting the needs of Colorado workers and their employers.

Pinnacol must be ready to adapt to an evolving state and economy. But no matter what changes the coming years bring, we remain committed to our role as the assured source of workers' compensation in Colorado. Tens of thousands of employers have relied on Pinnacol since 1915, and we look forward to another century of service.

Philip B. Kalin
President and CEO



Our financial performance continued to improve in 2014, creating an even stronger foundation for our commitment to protecting Colorado employers and their employees. View the documents below for more detail.