In the 2016 Colorado legislative session, Pinnacol floated a proposal to enable it to provide workers’ compensation coverage and related services in other states.
Pinnacol had an enthusiastic sponsor and received support from key agent partners and important business organizations like NFIB, which stated the proposal would serve the needs of its members.
But Pinnacol also ran into roadblocks. Not surprisingly, its competitors pushed back hard; other groups requested changes to Colorado’s workers’ compensation benefits schedule that had nothing to do with this proposal.
Accordingly, Pinnacol’s board voted on March 22 to ask the legislative sponsor, Rep. Angela Williams, not to seek to introduce the bill this year. Pinnacol has stated it will continue to work on the proposal with key stakeholders over the coming months and plan to introduce it in a future session.
A rapidly-changing industry requires innovation, and Pinnacol remains committed to evolving the organization by broadening the base of its business. More importantly, it’s the right thing to do for its customers. A stronger Pinnacol will be well-positioned to continuing issuing dividends and decreasing rates, and providing the high-quality service its policyholders want wherever they are.