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Workers Compensation

Workers' Compensation Insurance

Worker's compensation insurance is provided by over 200 private insurance companies and the State Compensation Insurance Fund, d.b.a. Pinnacol Assurance, an independent political subdivision of the state which operates as a workers compensation insurance company.  Self-insurance is an option, available by special permit specifying strict financial and loss control standards, for companies that have 300 or more Colorado employees.



How do employers obtain insurance?

Workers' compensation insurance may be purchased from one of over two hundred private insurance companies authorized to conduct business in the State of Colorado.  Coverage may be purchased from any authorized insurance company.  For a full listing of insurance companies in Colorado please click here.
 
Major worker's compensation reforms have resulted in effective cost containment. 2005 is expected to be the 4th year in a row with lower workers compensation costs, anticipated to drop 3.4% from 2004.  Reforms have saved Colorado employers well over $100 million in premiums alone, with total savings calculated at $1.5 billion when benefits from fraud prevention and safety programs are included. Within the United States, Colorado ranks in the middle for overall workers' compensation costs.

The Colorado Division of Workers' Compensation is the state office responsible for administering and enforcing the workers' compensation law in this state.  For more information on workers' compensation, please see their web site at http://www.coworkforce.com/dwc/.