Statement from Ken Ross, President and CEO, Pinnacol Assurance concerning Legislative Audit Committee Hearing


Denver, September 27, 2010 – Today, Pinnacol Assurance appeared before the Legislative Audit Committee to give a status update regarding the Performance Audit recommendations that were presented to the committee in June. Our board of directors and senior leadership took the recommendations from that audit report seriously and immediately began to develop implementation plans.

Our progress since June is evidence of Pinnacol’s commitment to improving our business practices in order to deliver on our mission of protecting our policyholders and their workers. In that brief time, we have:

  • Fully implemented six of the recommendations.
    •       -Numbers 1, 2, 3, 5, 9, 10
  • Begun implementing seven of the recommendations and will complete that work by the end of this year.
    •       -Numbers 4, 6, 7, 8, 12, 13, 14
  • Started evaluating recommendation 11 as the Division of Workers’ Compensation implements Senate Bill 13 regarding the injured worker survey.

The mission of Pinnacol Assurance is to protect our policyholders and their workers. We take seriously our responsibility to be good stewards of our policyholders’ dollars; to provide care for injured workers and their families; to provide protection for any company that asks for it; and to comply with all regulations.

Pinnacol Assurance has one vision: to be the best workers’ compensation company in the nation. Our commitment is to continuously take steps to improve and innovate in order to meet our obligations to our 55,000 policyholders and their workers. We believe that implementing the recommendations from the Performance Audit is just another step in that process.

Contact:
Suzi Stolte
Associate Vice President of Communications and Public Relations
303.361.4777
suzi.stolte@pinnacol.com