Pinnacol President's Response On 281

Denver, CO (CompNewsNetwork) - Pinnacol's disappointed, but not surprised, that the Colorado Senate chose to pass SB 273 and SB 281 - two ill-advised and shortsighted pieces of legislation that are bad for businesses, bad for injured workers and bad for Colorado. This passage comes despite the fact that Colorado’s Attorney General issued a legal opinion from the solicitor general stating that a plan by Colorado lawmakers to raid Pinnacol Assurance assets is unconstitutional and impairs vested interest  policyholders have. He also noted that a long and costly legal battle could ensue.

These bills now move to the House.

Despite Pinnacol's firm opposition to these specific bills, they continue to have discussions to determine if there is any possible proposal that would appropriately balance and address the needs of both the state and Pinnacol’s policyholders.