Pinnacol Assurance is distributing general dividend checks to its customers totaling $50 million. Pinnacol has also lowered premium rates by an average of 11%.
This is the seventh consecutive year of general dividend distributions.
Nearly 95% of Pinnacol’s policyholders are eligible to receive a dividend, encompassing more than 51,000 employers in all counties throughout the state.
The average 2022 dividend check amount is $974. Checks will be mailed to employers beginning March 22.
Pinnacol operates as a mutual insurer, which customers eligible for an annual dividend based on Pinnacol’s financial performance. Eligibility is based on customers’ commitment to safety with timely claims reporting and investments in safety education, technology and equipment.
With this year’s declaration, Pinnacol has returned $370 million in total dividends to Colorado’s business community since 2015, which equals nearly 9% of premium.
Pinnacol is Colorado’s largest workers’ compensation insurance carrier.
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