Colorado Workers’ Comp Carrier Distributing Dividends to 53K Companies

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Pinnacol Assurance in Colorado is distributing general dividend checks to its customers totaling $50 million

This is the sixth straight year the workers’ compensation carrier has distributed dividends.

Nearly 53,000 employers in all counties throughout the state, or roughly 95% of Pinnacol’s policyholders, are eligible to receive a dividend.

The average 2021 dividend check will be $949. Checks will be mailed to employers beginning March 23.

“During this year when Colorado businesses and their employees are facing significant financial hardships, we’re glad to be in a position to return some money to our policyholders,” Pinnacol president and CEO Phil Kalin said in a statement.

Eligibility is based on commitment to safety with timely claims reporting and investments in safety education, technology and equipment.

Pinnacol has returned $320 million in total dividends to Colorado businesses since 2016, or roughly 10% of premium. In 2020, Pinnacol distributed $70 million in dividends to customers during the coronavirus lockdown.

Pinnacol Assurance is the state’s largest workers’ comp carrier.