For the sixth year in a row, Colorado employee compensation insurer Pinnacol announced that it was distributing general dividend checks to 53,000 customers, totaling $ 50 million.
Ninety-five percent of Pinnacol's policyholders are eligible to receive dividends and receive an average dividend of $ 949 in 2021, according to an announcement on Monday.
"During this year, when Colorado companies and their employees face significant financial difficulties, we are pleased to be able to return some money to our policyholders," said Pinnacol's President and CEO Phil Kalin in a statement. "We are also pleased to have been able to reduce our customers' prices by more than 32% since 201
If we count this year's dividend, Pinnacol has returned $ 320 million in total dividends to the Colorado business community since 2016, which is equivalent to about 10% of the premium, according to the announcement. In 2020, Pinnacol distributed $ 70 million in dividends to its customers while locking in coronavirus.