Denver-based Pinnacol Assurance, a Colorado source for workers’ compensation insurance, announced it is issuing general dividend checks totaling approximately $120 million to its policyholders. During the past five years, Pinnacol has returned a total of $347 million in general dividends to Colorado’s business community.
This year, 89 percent of Pinnacol policyholders will receive a dividend. The average dividend check is approximately $2,200. Checks are calculated based on the size of a policyholder’s annual premium
compared to claims costs.
“Our ability to return a general dividend to our policyholders is a direct result of two things,” said Ken Ross, Pinnacol president and CEO. “First, our policyholders have demonstrated an incredible
commitment to workplace safety and an undeniable focus on lowering their claims. Second, the dividend speaks to Pinnacol’s strength and stability and our commitment to returning money to the
people it belongs to – our policyholders. We can’t underestimate the power of returning this money to Colorado businesses during these troubling economic times.”
Dividends reward Pinnacol policyholders with strong safety records and low claims costs and are based on actual performance during a specific period of time. This year’s dividend is based on policyholder performance between June 2007 to June 2008. Final determination of the dividend was made after the company’s annual
audit was completed.
For more information, visit www.pinnacol.com.
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