View this article online: https://www.insurancejournal.com/news/west/2008/08/20/92941.htm
Greeley, Colo.-based Flood & Peterson Insurance recently distributed $2.7 million in workers’ compensation dividend checks to 1,227 Colorado clients as a reward for maintaining safe workplaces.
The $2.7 million in dividend checks that Flood & Peterson distributed come from Pinnacol Assurance, Colorado’s largest workers’ compensation insurer. Flood & Peterson has been a Pinnacol agent for 18 years.
This is the fourth consecutive year Pinnacol has issued a dividend to policyholders, which is possible because of the company’s financial health and stability, the company said. The dividend rewards Pinnacol policyholders who have good safety records and low claims costs, which, in turn, help the company build its surplus. Dividend checks are calculated based on the size of a policyholder’s annual premium compared to claims costs. The average 2009 dividend check was about $930.
Statewide, Pinnacol issued $55 million in dividend checks to more than 58,000 qualifying businesses — roughly 92 percent of its policyholders.