Pinnacol Assurance - 1792 Exchange

Rating Overview

Pinnacol Assurance is High Risk.

Pinnacle Assurance is High Risk. The company yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Pinnacle Assurance embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	High Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	High Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

Pinnacol Assurance received a score of 85 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). Pinnacol Assurance promotes divisive sex and gender policies. Its Supplier Code of Conduct requires international vendors to include sexual orientation and gender identity or expression in their nondiscrimination policy (3). However, Pinnacol Assurance has not canceled customers, suppliers, or vendors based on political views or religious beliefs (4).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

High

Rationale:

Pinnacol Assurance’s HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2). Pinnacol Assurance will not give to “Religious institutions (except hospitals and hospital foundations)”. The company’s charitable giving focus areas are “rehabilitative health services, employee safety and health, and economic vitality and workforce development” (3).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Pinnacol Assurance offers DEI training to its employees. The company appears to prioritize diversity over merit in its leadership compensation. From its Press Releases: “Pinnacol executive leaders also have a portion of their compensation tied to DEI performance targets, including goals for hiring and retention of BIPOC team members.” In 2023, it was also the winner of the Denver Business Journal Diversity, Equity, and Inclusion Award (1). Pinnacol Assurance does not provide viewpoint protections for its employees (2)(3).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Pinnacol Assurance’s HRC 2025 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers, and harming shareholders (1)(2). Pinnacol Assurance scored a 45 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group (3)(4). Pinnacol Assurance supports DEI within its business practices, employing a DEI Council (4). The company prioritizes diversity in its supply chain by encouraging its suppliers “to include small and socio-economically diverse suppliers” (5).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Pinnacol Assurance’s HRC 2025 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (1)(2). Otherwise, there are no publicly known cases of Pinnacol Assurance using corporate funds to advance ideological causes, organizations, or policies (3).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

High

Rationale:

Pinnacol Assurance’s HRC 2025 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives. By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders (1)(2). Pinnacol Assurance does not operate a PAC or engage in lobbying at this time (3)(4)(5).