Pinnacol issues $50M in general dividends to Colorado employers
DENVER, March 26, 2018 — Pinnacol Assurance, Colorado’s leading workers’ compensation insurer, is distributing $50 million in workers’ compensation dividend checks this month to its policyholders.
Nearly 53,000 employers throughout the state — roughly 94 percent of the company’s policyholders — will receive a dividend. Check amounts are calculated based on the policyholder’s premium size and performance. The average 2018 dividend check will be $944, and will be sent to employers in late March.
“Pinnacol is in a position to provide these dividends because of our careful stewardship of our policyholders’ premium dollars, as well as our policyholders’ commitment to their employees’ health and safety,” said Phil Kalin, Pinnacol president and CEO. “Pumping $50 million back to our policyholders will help them invest in the people, processes and technology to keep up in Colorado’s fast-moving economy."
Pinnacol policyholders have earned a dividend ten times since 2005, a result of their commitment to workplace safety and controlling claims costs. With the 2018 declaration, Pinnacol has now returned nearly $606 million in total general dividends to Colorado businesses.