Cost to Privatize Pinnacol Assurance Exceeds $500M, Under Latest Proposal

Pinnacol Assurance would pay Colorado and its state worker pension fund more than a half-billion dollars combined, under the latest proposal to sever the carrier's ties to the state. Rep. Matt Soper, R-Delta, on Friday introduced House Bill 1213, which would require Pinnacol to convert from a state-chartered carrier to a mutual holding company by the start of 2023. “We support the bill,” said Edie Sonn, Pinnacol’s vice president of communications and public affairs. “The benefits to becoming independent are not being constrained by an antiquated busi...