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Pinnacol in Colorado to Drop Workers’ Comp Rates, Issue Dividend in 2019

Pinnacol Assurance’s Board of Directors has licensed a plan to lower staff’ repayment charges in 2019 by way of a median of 10 p.c.

The lower will pass into impact on Jan. 1, 2019, and would be the fourth immediately year Pinnacol has reduced charges. Pinnacol’s board additionally declared its intent to factor a basic divided of more or less $70 million in 2019.

The Colorado Division of Insurance has licensed a 16.7 p.c reasonable statewide loss cost lower for the 2019 policy year in keeping with suggestions from the National Council on Compensation Insurance.

Pinnacol stated its price exchange displays longer-term underlying loss and expense developments to reduce short-term volatility and create market steadiness for Colorado employers.

The basic dividend is a portion of Pinnacol’s surplus returned to its shoppers that earn it via a hit administrative center protection information controlling claims prices.

Pinnacol supplies staff’ comp 57,000 Colorado employers.

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