Pinnacol Announces 6% Rate Cut

Colorado’s largest workers’ compensation carrier, Pinnacol Assurance, announced that it will lower rates by an average of 6% in 2021. Pinnacol said in a Nov. 10 statement that while the rate change will vary depending on the characteristics of individual policyholders, the decrease equates to nearly $30 million in lower premium costs. The state-chartered carrier said the decrease that takes effect Jan. 1 will be the sixth consecutive rate cut. Pinnacol also announced that its board of directors will make a final decision on a general dividend in February. “Although COVID-...