Rating signals insurance-industry-leading operational performance and ability to support policyholders
DENVER, April 17, 2023 — Pinnacol Assurance has achieved an A.M. Best rating of A- (excellent) with a stable outlook, demonstrating the company's commitment to being a critical and relied upon partner for Colorado's workers, employers and the communities that it serves. This rating highlights Pinnacol's strong financial position, which enables the organization to provide trusted workers' compensation insurance to more than 50,000 employers in the state. Pinnacol has achieved the A- rating for 8 consecutive years since it began participating in the rating program in 2015.
Pinnacol Assurance is a leading provider of workers' compensation insurance in Colorado and is dedicated to supporting and investing in the state's workforce. As the state chartered “carrier of last resort” the organization's mission is to ensure that all injured workers have access to the care they need and that Colorado's employers have access to reliable and affordable workers' compensation insurance. Achieving an A.M. Best rating of A- is a testament to Pinnacol's stability and ability to fulfill its mission.
A.M. Best assigns ratings to more than 3,500 insurance companies globally. The company’s rating process involves a combination of quantitative and qualitative analysis, which includes a review of financial statements, regulatory filings, and other data. The analysis also takes into account factors such as industry trends, competitive landscape, and regulatory environment.
“The state of Colorado created Pinnacol 107 years ago to ensure that all employers across public, private and nonprofit industries have access to workers’ compensation coverage, regardless of risk,” said John O’Donnell, Pinnacol president and CEO. “This rating shows how our commitment to Colorado transcends this important responsibility and reinforces Pinnacol’s operational excellence, financial stewardship and status as an industry-leading carrier compared to other private, national carriers. We’re proud to be the stable service organization that Colorado’s workers and employers need to continue to thrive.”