Colorado’s largest workers-comp insurer is paying $50 million dividend

Pinnacol Assurance, Colorado’s largest workers compensation insurer, will pay a dividend of $50 million this year, returning an average of $941 per company to the roughly 53,000 businesses that earned it.

This will be the second straight year that Pinnacol, which writes policies for nearly 60 percent of the state’s businesses, is issuing a dividend, and the amount is about $30 million higher than what it gave back to clients in 2016.

Dividend checks are calculated based on the policy holders’ size and performance, and about 6 percent of Pinnacol clients did not meet the minimum qualifications to earn a payout.

“We expect that this will be important support for our state’s employers as they continue to invest in their people, processes and technology, preparing them for success in the years to come,” Pinnacol president and CEO Phil Kalin said.

Pinnacol, a state-chartered business and one-time major focus for state lawmakers, has been relatively quiet at the Capitol since an aborted effort in 2016 to try to expand policy sales outside of Colorado.

Ed Sealover covers government, health care, tourism, airlines, hospitality, restaurants and brewing for the Denver Business Journal. Phone: 303-803-9229.

 

http://www.bizjournals.com/denver/news/2017/03/21/colorados-largest-workers-comp-insurer-paying-50.html?ana=e_ae_set1

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