Categorized | Featured Stories, Pinnacol

HB10-1356: Pinnacol Assurance Reserve Cap, Dividend Rule Rejected

Pinnacol Assurance, under intense scrutiny in the Colorado Legislature for the past year, caught its first break in a while Tuesday when a state House committee rejected a bill that would have capped the workers’-compensation insurer’s reserves and required it to pay excess revenues back to policyholders as dividends, the Denver Business Journal reports. House Bill 1356, sponsored by Rep. Su Ryden, D-Aurora, would have capped the amount of Pinnacol’s risk-based capital that it could keep in reserve and mandate the rest go back annually to its roughly 55,000 business clients statewide.

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