Businesses to receive insurer dividends
Mesa County businesses insured by Pinnacol Assurance are getting $2.1 million back in the form of dividends from the state’s largest workers’ compensation insurance carrier.
The checks are part of Pinnacol’s sixth consecutive general dividend. This year, $47.5 million will be distributed to more than 52,000 qualifying businesses, or about 86 percent of policyholders, across the state, Pinnacol said in a statement.
The average 2010 dividend check is $900 and is based on policyholder performance between June 2008 and June 2009, Pinnacol said.
Talbott Farms in Palisade is planning to use its $8,000 check to provide housing for employees.
Other companies planning to use their dividends include 4 Corners Roofing in Durango, which will use its $13,187 dividend to reinvest in the company’s safety-incentive program, Pinnacol said.
Beaver Creek Stables in Eagle County will use its $3,037 dividend to retire older horses and purchase new ones for tourist trail rides.
Other companies plan to hire new employees or purchase new equipment.
“At a time when Colorado businesses are struggling to recover from the devastating economic downturn, Pinnacol’s ongoing strong financial performance put us in a position to return money to our policyholders,” said Ken Ross, Pinnacol president and CEO. “We know the impact of this dividend will ease some of the pain businesses are feeling and help create more jobs and stimulate the economy.”