Colorado Workers’ Compensation Company Comes Under Fire

January 20, 2012

The only state-chartered workers’ compensation company is coming under fire over advertising that promotes the benefits of privatizing the company.

Business groups say Pinnacol’s present quasi-governmental status seems to work well, and it is unclear that privatization would help them.

Officials at Pinnacol Assurance say they only promised they wouldn’t lobby members of a task force considering the merits of privatization.

According to the Denver Post, the state is considering a plan that would keep a 40 percent ownership stake in Pinnacol. Under the proposal, the company would become a mutual assurance company owned by its policyholders and could later turn into a company with publicly held stock.

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