Pinnacol Assurance, Colorado’s leading workers’ compensation insurer, will distribute $30 million in workers’ compensation dividend checks this month to its policyholders.
Nearly 53,000 employers throughout the state — roughly 93 percent of the company’s policyholders — will receive a dividend in recognition of maintaining safe workplaces. Dividend checks are calculated based on the policyholder’s premium size and performance. The average 2016 dividend check will be $571. Checks will be delivered to employers in March and April.
In El Paso County, more than $2.4 million will be awarded to employers this year, according to a news release issued by Pinnacol Assurance.
“This dividend is possible because of our policyholders’ commitment to the safety and well-being of their employees, Pinnacol’s financial stability and strength, and a resurgent Colorado economy,” Phil Kalin, Pinnacol president and CEO, said in the release. “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 has issued a dividend nine times since 2005, a result of its financial health and stability. With the 2016 declaration, Pinnacol has now returned nearly $506 million in total general dividends to Colorado employers.