The Colorado Corn Growers Association, Colorado Association of Wheat Growers and Colorado Sugarbeet Growers Association have joined forces with Pinnacol Assurance to make this Workers' Compensation Safety Dividend Program available to all regular members. The Workers' Compensation Safety Dividend Program is a group insurance option designed to reduce workers' compensation costs by promoting risk management and accident prevention plans in the workplace. This group was formed in 1994. By combining the premium of all group members, a larger premium base is established, allowing Pinnacol Assurance to reduce costs and return dividends to members based on their loss histories. By joining the group, each member receives access to loss control resources through Pinnacol Assurance and assistance in establishing safe working conditions.
Members then pay a premium based on their current individual record.
Pinnacol Assurance and the associations provide training in all areas of workers' compensation including promoting safety in the workplace to reduce accidents and claims costs. Dividend Distribution and Payout Dividends are distributed among the membership based on each individual member's loss experience. Costs under the Pinnacol Assurance group plan will never be more than what they would be as a non-participant. There are no risks or any potential for increased premiums. Participating members retain their individual Pinnacol Assurance policyholder credit structure.