The only state-chartered workers’ compensation company is coming under fire over advertising that promotes the benefits of privatizing the company.
Business groups say Pinnacol’s present quasi-governmental status seems to work well, and it is unclear that privatization would help them.
Officials at Pinnacol Assurance say they only promised they wouldn’t lobby members of a task force considering the merits of privatization.
The state is considering a plan that would keep a 40 percent ownership stake in Pinnacol. Under the proposal, the company would become a mutual assurance company owned by its policyholders and could later turn into a company with publicly held stock.