Pinnacol announced yesterday that we will be issuing our seventh consecutive general dividend. This year, $41 million will be distributed to more than 50,000 qualifying businesses — nearly 85 percent of policyholders — throughout the state. The general dividend rewards Pinnacol policyholders who are committed to workplace safety and effective claims management practices. With the 2011 declaration, Pinnacol has returned more than $435 million in general dividends to Colorado businesses since 2005.
“Pinnacol’s ongoing financial stability and strength allow us to return money to our policyholders,” said
Ken Ross, Pinnacol president and CEO.
“This dividend offers some relief to businesses that continue to feel the pain of the slow economic recovery. We hope it will help create more jobs and provide a boost to the state’s business climate. We applaud our policyholders for their continued commitment to effective claims management and safety practices and thank them for their business and continued support.”
This year’s dividend is based on policyholder performance between June 2009 – June 2010. Dividend checks are calculated based on the size of a policyholder’s annual premium compared with claims costs. Pinnacol’s policyholders represent the full spectrum of Colorado’s industries, including construction, manufacturing, high-tech, transportation, and agriculture.
Pinnacol provides a variety of free resources to help policyholders manage their workers’ compensation policies including a team of 27 loss prevention experts, experienced return-to-work specialists and nurse case managers, a fraud investigation unit and a wide range of training opportunities.
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