Tuesday, February 16, 2010
Pinnacol in the News Again
In the Denver Post Pinnacol is again in the news for making what is said to be a $200 million dollar offer to Colorado. It is said they want a number of things but in return would pay the state $75 million one year, $75 million the next year and then $50 million over 30 years. In return it wants certain concessions and to have some of the currently pending legislative efforts go away. Although the details remain to be worked out and there is much criticism of Pinnacol the state is in a financial bind so I am sure that negotiations will continue. What if anything that will be worked out remains to be seen. Pinnacol Assurance handles a majority of the work injury claims in Colorado and while I realize Colorado like much of the country is financially strapped I do think any deal should not harm the best interests of injured workers. Time will tell how this all plays out.
UPDATE...FEB. 23, 2010...Senate President pans the idea for now but we shall see as it may depend on further negotiations or how bad off the state budget may be.