Insurance division cancels Pinnacol meeting

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The Colorado Division of Insurance has cancelled a public hearing against Pinnacol Assurance that was scheduled for Wednesday.

The division and Pinnacol have reached a tentative agreement on the problems and Pinnacol’s board of directors will vote on the settlement tomorrow.

The hearing – the first time the division has taken the step in a decade – was scheduled to address problems the division found with the way Pinnacol decides its rate structure.

Once the agreement is approved and signed by both parties, details of the settlement will be made public.