Pinnacol Assurance celebrates 110 years of protecting Colorado's workforce and businesses

‍DENVER, CO – July 31, 2025 – Pinnacol Assurance, Colorado's leading workers' compensation carrier, will proudly celebrate its 110th anniversary on August 1, sharing its founding date with the state of Colorado - also known as Colorado Day.  This year’s occasion will mark over a century of unwavering commitment to the safety, stability, and economic vitality of the state. Since its founding in 1915 as the State Compensation Insurance Fund, Pinnacol has evolved from a vital state entity born out of crisis into a modern, market-driven industry and civic leader, consistently serving as a "Force for Good" for Colorado.

‍More than a Century of evolution and impact

Pinnacol Assurance was established in 1915 as part of the landmark Workers' Compensation Act, a "grand bargain" designed to replace a chaotic legal system with a stable, transparent and cost-efficient framework for workplace injuries. Its initial mandate was clear: to ensure access to workers' compensation insurance for all Colorado employers, especially those in high-risk industries like mining and construction, providing economic stability for diverse industries, and protection for workers alike.

Over the past 110 years, Pinnacol has demonstrated remarkable adaptability and foresight. Key milestones in Pinnacol’s journey include:

1915: Founded as part of the Workers’ Compensation Act as a state agency called the State Compensation Insurance Fund to support Colorado’s riskiest industries 

1987: Transitioned from a state agency to a political subdivision of the State. 

2001: Pinnacol creates the Pinnacol Foundation to support the education costs for children of severely injured or deceased workers. The Foundation supported four scholars in its first year and grew the program over the next 20 years to be the largest of its kind in the U.S., supporting nearly 100 scholars each year. 

2002: In response to a competitive economy, mostly spun off from the state to a mutual insurance company owned by its member-policyholders.  The Company was rebranded to Pinnacol Assurance, signaling a modern, market-facing identity.

2015: 100-year anniversary, celebrated with state leaders, injured workers, and business leaders.   

2017: Launched Cake Insure, a wholly-owned digital subsidiary, to meet the evolving needs of small businesses through an all-digital platform.

2021: Acquired Attune Insurance to provide an intuitive online platform experience for agents. 

2023-Present:  Adopted new services and technology platforms to better meet the needs of a post-pandemic workforce and multi-state hiring trends.  

‍Recent accomplishments and unwavering commitment

In recent years, Pinnacol has continued to build upon its legacy of excellence, delivering exceptional value and service to its policyholders and the community:

• Market Leadership and Financial Strength: Pinnacol remains the largest workers' compensation carrier in Colorado, covering more than 50,000 businesses. It consistently holds an "A- (Excellent)" Financial Strength Rating from industry analyst A.M. Best and has been named to Ward's 50 list of top U.S. property and casualty insurers for eight consecutive years. Forbes Advisor has also named Pinnacol a top workers' comp carrier in the US for several years and gave it a 5-star rating. 
• Policyholder Dividends: As part of its mutual-like operational model, Pinnacol has returned substantial value to the workplace. In March 2025, the company distributed its tenth consecutive general dividend, returning approximately $15 million to over 47,000 member-policyholders. 
• Superior Service and Care: Pinnacol consistently achieves high customer satisfaction, maintaining a record-setting Net Promoter Score (NPS) of 61. For nine consecutive years, injured workers have rated Pinnacol as the top-performing workers' compensation carrier in Colorado in state-administered surveys, reflecting its "culture of caring" and comprehensive support services.
• Proactive Safety and Return to Work: The company's proactive safety services lead to an average 38% decrease in claim frequency for engaged customers. Its Return to Work program significantly reduced employer claims costs by over $6 million in 2024, by facilitating safe and timely recoveries for injured workers, including through innovative partnerships with local nonprofits.
• Community Impact: Through its "Force for Good" initiatives, Pinnacol invested over $1 million in community contributions and recorded more than 3,000 employee volunteer hours in 2024. The Pinnacol Foundation, the nation's largest scholarship program of its kind, has awarded nearly $9 million to over 900 students of parents who were seriously injured or who lost their lives on the job in Colorado.

"For 110 years, Pinnacol Assurance has been an indispensable part of Colorado's economic and social fabric," said John O’Donnell, Pinnacol’s president and CEO. "Our journey reflects a steadfast commitment to our dual mission: protecting Colorado's businesses and Putting Care to Work for its injured workers. As we look to the future, we remain dedicated to innovating, adapting to market changes and customer needs, and continuing to be a 'Force for Good' for our state, ensuring a safe and prosperous Colorado for generations to come."