Pinnacol Assurance is distributing common dividend checks to its clients totaling $50 million. Pinnacol has additionally lowered premium charges by a median of 11%.
That is the seventh consecutive yr of common dividend distributions.
Practically 95% of Pinnacol’s policyholders are eligible to obtain a dividend, encompassing greater than 51,000 employers in all counties all through the state.
The common 2022 dividend test quantity is $974. Checks might be mailed to employers starting March 22.
Pinnacol operates as a mutual insurer, which clients eligible for an annual dividend based mostly on Pinnacol’s monetary efficiency. Eligibility relies on clients’ dedication to security with well timed claims reporting and investments in security schooling, expertise and tools.
With this yr’s declaration, Pinnacol has returned $370 million in whole dividends to Colorado’s enterprise neighborhood since 2015, which equals almost 9% of premium.
Pinnacol is Colorado’s largest staff’ compensation insurance coverage provider.
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