Mesa County employers will receive a total of $2.2 million in the latest distribution of dividends from a workers’ compensation insurer.
“At this time 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,” said Phil Kalin, president and chief executive officer of Pinnacol Assurance. “We are also pleased that we have been able to reduce our customers’ rates by an average of 7 percent this year.”
Pinnacol Assurance will distribute a total of $70 million in general dividend checks, a portion of company surplus returned to customers.
Check amounts are calculated based on customers’ premium sizes as well as their success with partnering with employees and Pinnacol to keep their workplaces safe. Those efforts include claims reporting within 48 hours as well as investments in safety education, technology and equipment.
About 95 percent of Pinnacol policyholders are eligible to receive a dividend — more than 50,000 employers in Colorado.
The 2020 dividend checks will average $1,319. In Mesa County, dividend checks will average $1,162.
Pinnacol Assurance has distributed dividends for five consecutive years. Counting this year’s distribution, the company has issued dividends 12 times since 2005 and returned a total of more than $746 million to Colorado employers.
For additional information about Pinnacol Assurance, log on to the website located at www.Pinnacol.com.