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Friday, March 19, 2010

Pinnacol in the news

The Denver Post and other media this morning report that Pinnacol has increased its offer to the state to $330 million, up from the original $200 million. $230 million would be paid over two years in $115 million annual lump sums and the remaining $100 million paid over 30 years at 11 percent interest.
In February Pinnacol offered the state $200 million in exchange for nearly full autonomy, and, as under the original offer, the new deal would still allow Pinnacol to keep its federal tax-exempt status, but the new proposal would require the insurer to pay taxes on all its premiums.

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What are your thoughts regarding Pinnacol's efforts to distance itself from the state?

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