Sunday, April 01, 2012
Pinnacol spends plenty on privatization effort
Once again Pinnacol Assurance is in the news. The Denver Post is reporting in an article that they have spent $1.6 million since January in efforts to promote its privatization. Lobbying, advertising and public relations are part of this effort. This has raised concerns about what it has been doing and whether it is sensible though Pinnacol has defended by indicating it was due diligence to protect policyholders. The privatization effort remains controversial and many oppose it. You can read the article for more on Pinnacol's efforts. The story has been around for many months. You can expect the story to continue. My view is that Pinnacol is thriving and wants more autonomy. Private entities have less scrutiny and Pinnacol has seemed quite aggressive in its push for privatization.