Restructuring Proposal

In early 2011, Governor Hickenlooper asked the Pinnacol Board of Directors to examine the feasibility of restructuring the company to ensure its long-term viability while continuing to serve policyholders, injured workers and the people of Colorado. On Nov. 2, 2011, a proposal to restructure Pinnacol was presented to the board at its monthly meeting. After a thorough review of the proposal, the board authorized pursuing discussions with the Governor regarding its content.

On Feb. 2, 2012, Gov. Hickenlooper and Pinnacol's Board of Directors agreed that any steps to restructure Pinnacol into a mutual insurance company would require additional time to review. The board still believes that restructuring Pinnacol has many long-term benefits, but it would like to work to answer the important questions of Pinnacol's stakeholders before proceeding. Because of these factors, no legislation will be introduced during the 2012 legislative session. View the governor's statement.

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