Pinnacol Pulls Plug on Out-of-State Coverage Proposal

Pinnacol Assurance will not pursue legislation allowing it to sell workers’ compensation coverage outside of Colorado this year after running into opposition from labor leaders and the insurance industry, according to a report by the Denver Business Journal. The state-chartered carrier earlier this year unveiled a draft bill that would have allowed it to create a for-profit subsidiary run by an independent board of directors offering coverage in other states. Unlike Pinnacol’s 2012 privatization proposal, employers supported the idea of allowing the carrier to cover risks in othe...