Pinnacol Issues $60 Million in Dividends to Colo. Policyholders

Denver-based Pinnacol Assurance, a Colorado workers’ compensation insurer, announced it will issue a general dividend to its policyholders. In mid-May, enearly 56,000 eligible Colorado businesses will receive dividend checks totaling $60 million.

“Issuing a general dividend for the third straight year is a continuing sign of Pinnacol’s financial health and stability,” said Ken Ross, Pinnacol Assurance president and CEO. “We’re pleased to be in a position to return this money to our customers who fuel Colorado’s economy by reinvesting these funds in their businesses and their employees’ safety.”

The dividend rewards Pinnacol policyholders who have good safety records and low claims costs. Dividend checks are calculated based on the size of a policyholder’s annual premium compared to claims costs. The average 2007 dividend check will be about $1,100.

Source: PInnacol