More than 90 members of the Aurora Chamber are positioned to receive substantial dividends they earned though The Chamber's Workers' Compensation program in 2005. According to Chamber President Kevin Hougen, companies under the Safety Group's Workers' Comp program administered by Pinnacol Assurance are on track to reap a return that averages 20 percent of the premium they paid for the fiscal year ending April 1,2005. "Our businesses are getting better and better in their worker safety programs," Hougen said, "So they can expect to see a pretty good return on that investment." Since the program's inception in 1995, the Workers' Comp program has paid out $455,803 in dividends, paying dividends in 9 of the last 10 years. "We are on track to return an average of 20 percent on premiums paid by the members of this program in 2006," said Hougen. "We achieved this by helping our members reduce claims costs." He pointed out that the exact amount of the dividend will depend on the individual company's annual premium and loss ratio. All Aurora Chamber members are eligible for the Pinnacol program. Upon acceptance, members immediately receive a four percent up-front discount on their Worker's Comp policy with potential to earn up to 11.5 percent in discounts. The program is administered by insurance agents Colorado Insurance Professionals, Inc. who have represented The Chamber in this program since its inception and have a history in the community for over 25 years. Hougen said cost savings are attained by combining the premium of the Aurora Chamber Safety Group members, thus establishing a larger premium base. "This allows Pinnacol to reduce costs and return dividends to members based on loss histories," Hougen said. "Safety group members receive a dividend based on their current individual record and each member's premium is based on their individual loss experience." He stated that member costs under the Pinnacol group are "never more than what they would be as a non-participant." For additional information about the Workers Comp program offered through The Chamber by Pinnacol, contact Paul Rosenberg or Marci Maxwell at 303-344-1500. The 105-year-old Aurora Chamber serves as the voice of the business community in the Eastern Metro area. It acts as a business advocate offering access and influence for its members on issues that affect their growth and long term economic vitality. |