Categorized | Featured Stories, Pinnacol

State Takes First Step To Spin Off Workers Comp Insurer Pinnacol

Gov. Bill Ritter’s office is moving forward with a deal that would cut Pinnacol Assurance, the state-chartered worker’s compensation fund, free from almost all state control in exchange for a payment that could mean hundreds of millions of dollars to help balance the budget, The Denver Post reports. The state today signed a deal with Pinnacol under which Morgan Stanley will represent the state in any potential transaction that severs the insurance fund from the state. Under the arrangement, Pinnacol will pay all of Morgan Stanley’s fees, and the financial firm would get $2 million or 1 percent of any transaction price, whichever is greater.

MS Agreement

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