Workers’ compensation insurance is essential in maintaining a safe and healthy workplace. It can help cover the costs of medical care and lost wages if you sustain an injury on the job.
Pinnacol Assurance is a leading provider of workers’ compensation insurance in Colorado. They are here to help you protect your employees and your business. Here’s who they are and how they can help Colorado residents like you.
What Is Pinnacol Assurance?
Pinnacol Assurance is a Colorado-based workers’ compensation insurance company that has been in operation since 1915. The Colorado legislature created it to provide a stable source of workers’ compensation insurance for businesses in the state.
Pinnacol Assurance is a mutual insurance company, meaning its policyholders own it. These people elect the company’s board of directors, who hire executive management team members.
The company is the largest workers’ compensation insurance provider in Colorado. It also services over 60% of Colorado businesses. Pinacol Assurance writes policies for businesses of all sizes, from small companies to large corporations.
How Can Pinnacol Assurance Help Colorado Residents?
Pinnacol Assurance provides different services and programs that can help Colorado residents., including:
- The provision of workers’ compensation insurance for businesses in the state
- The administration of the Colorado Workers’ Compensation system
- The operation of the Pinnacol Foundation, which provides grants and scholarships to Colorado residents
- The provision of safety resources and training for businesses and workers in the state
What Are Some Benefits Of Working With Pinnacol Assurance?
Many benefits come with working with Pinnacol Assurance. Some of those include:
The Company’s Experience
Pinnacol Assurance has been operating for over 100 years and is the largest workers’ compensation insurance provider in Colorado. That experience can be beneficial for businesses and workers who are looking for coverage.
The Company’s Size
As the largest workers’ compensation insurance provider in Colorado, Pinnacol Assurance has ample resources. They can provide a comprehensive level of coverage for businesses.
The Company’s Ratings
Pinnacol Assurance has a rate of AA- (Very Strong) by Standard & Poor’s and A (Excellent) by A.M. Best. That high level of financial stability can be beneficial for businesses and workers who are looking for coverage.
The Company’s Programs
Pinnacol Assurance offers several programs that can benefit businesses and workers in Colorado. Those programs include the Pinnacol Foundation, which provides grants and scholarships to Colorado residents. That also involves the company’s safety resources and training programs.
What Are Some Drawbacks to Working with Pinnacol Assurance?
There are a few potential drawbacks to working with Pinnacol Assurance. Some of those include:
The Company’s Rates
The Colorado Division of Insurance sets the Pinnacol Assurance rates. That means that the rates may be higher than what businesses and workers could find on the open market.
The Company’s Coverage
Pinnacol Assurance offers a standard level of coverage for businesses in Colorado. That coverage may not be enough for some companies, particularly those with higher risks.
The Company’s Claims Process
Pinnacol Assurance’s claims process can be complex and time-consuming. That can be frustrating for businesses and workers who need to file a claim.
Pinnacol Assurance In Grand Junction, Colorado
Pinnacol Assurance is a reputable and experienced workers’ compensation insurance provider. It can be an excellent option for businesses and workers in Colorado. The company has programs and resources that can be beneficial for policyholders. But the state sets its rates, meaning they may be higher than what you could find on the open market. Additionally, the company’s claims process can be complex and time-consuming.
Are you interested in Pinnacol Assurance in Grand Junction, Colorado? WorkPartners Occupational Health can help you with this. Simply call our friendly staff at (970) 241-5585 to see how we can help you. You may also use our secure online appointment request form to learn about occupational health services near you.
We look forward to serving you!