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Colorado’s Pinnacol Is Willing To Pay $200,000,000 For What?


Colorado’s Pinnacol Pays $200,000,000

Did Colorado’s Pinnacol just buy its independence?  I usually am able to comprehend most things that happen in the World of Workers Comp. When I read the headlines that Pinnacol is willing to pay $200 million to have more autonomy, I was flabbergasted, to say the least.

View of Colorado's Pinnacol Rocky Mountains
Wikimedia Commons – Rick Kimpel – Flickr

It looks to me as if Pinnacol is willing to buy votes by saying that they will pay $200 million to be left alone.

The recent bills that are in place which would change Pinnacol are:

1. The denials that Pinnacol has issued to injured employees

2. The surveillance that Pinnacol has ordered on some of the injured employees

3. The status of how Pinnacol operates – is it going to be a private insurer or still a quasi-governmental unit.

4. Will the Colorado state government be able to raid the capital surplus of Pinnacol and place it in the general fund?

5. Can Pinnacol purchase other insurance carriers while still having the quasi-governmental status?

There are many other concerns with Pinnacol. As with CompSource in Oklahoma, the best method to privatize a company is to just do it. The example of Brickstreet in WV and others such as Nevada all show that the conversion can be accomplished successfully.

The problems that Ohio and Washington have had of late show the need for a full privatization effort. The open market for Workers Compensation is always the best for the state in question.

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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