Statement from Suzi Stolte, Associate Vice President of Communications and Public Relations concerning Release of Documents to KMGH-TV


DENVER, January 6, 2011 – In compliance with a court order issued by Judge Morris B. Hoffman on December 3, 2010, Pinnacol Assurance today delivered to KMGH-TV information the station requested under the Colorado Open Records Act (CORA).

Pinnacol sought guidance from the court regarding this request because, under its existing statutory framework, the company, although a political subdivision of the state of Colorado, is directed to operate as a private mutual insurance company. The CORA request sought information not required of the private entities that Pinnacol competes with in the insurance marketplace.

Pinnacol is committed to being transparent in its business operations, and while we have complied with the trial court’s order to release the information, we continue to believe that the balance between transparency and the company’s mandate to operate as a domestic mutual insurance company is an important question that should be determined by Colorado appellate courts. Pinnacol’s unique statutory structure and how CORA requests should be treated are matters of significance to Pinnacol and its stakeholders. Pinnacol has already appealed the trial court’s order, and the Colorado Court of Appeals has established a briefing schedule on these matters. Pinnacol agreed to provide the documents to KMGH-TV in this instance without seeking a further stay of the order, but fully intends to proceed with its appeal of the trial court’s reasoning.

About Pinnacol Assurance
Pinnacol Assurance is Colorado’s leading provider of workers’ compensation insurance. Pinnacol provides comprehensive, competitively priced coverage; immediate attention to claims; a highly qualified network of medical providers; and proactive safety programs to approximately 55,000 Colorado businesses. Since 2005, Pinnacol has returned more than $435 million in general dividends to its policyholders statewide ― a mark of the company’s stable and strong financial health.

Contact:
Suzi Stolte
Associate Vice President, Communications and Public Relations
Office: 303.361.4777
Cell: 303.406.3795
suzi.stolte@pinnacol.com