States largest workers’ compensation insurer hasn’t issued a dividend since 2012
Colorado’s largest workers’ compensation insurer will pay $30 million in dividends to about 93 percent of its policyholders, or about 53,000 companies.
This is the ninth time since 2005 that Pinnacol Assurance has been able to issue dividends. The last time was in 2012, when it distributed $37.5 million. Including the 2016 payout, Pinnacol has returned $506 million in dividends to employers.
Pinnacol CEO Phil Kalin said the dividends reward policyholders for workplace safety that protects employees. The payments are calculated based on the policy holder’s premium size and performance. The average check will be $571, the company said in a news release.
The bulk of the dividends will flow to Denver employers, who are expected to receive more than $4.3 million, followed by $2.7 million paid to Arapahoe County companies and $2.6 million returned to Adams County companies.