Pinnacol Distributing $55 Million to Colorado Businesses

For the fourth year in a row, Denver-based Pinnacol Assurance, a workers’ compensation insurance carrier, will issue a general dividend to its policyholders. In mid-May, eligible Colorado businesses will receive dividend checks totaling approximately $55 million. Statewide, Pinnacol is issuing dividend checks to nearly 58,000 qualifying businesses in all 64 counties – about 92 percent of its policyholders.

“Issuing a general dividend for the fourth straight year is a continuing sign of our policyholders commitment to maintaining safe workplaces and to Pinnacol’s financial health and stability,” said Ken Ross, president and CEO. “We’re pleased to be in a position to return this money to our customers who fuel Colorado’s economy by reinvesting these funds in their businesses and their employees’ safety.”

The dividend rewards Pinnacol policyholders who have good safety records and low claims costs. Dividend checks are calculated based on the size of a policyholder’s annual premium compared to claims costs. The average 2008 dividend check will be about $930.

Source: Pinnacol

Topics Colorado