Media Statement in response to inquiries concerning Pinnacol’s Application for Determination

Attributable to Ken Ross, Pinnacol President and CEO


DENVER, May 21, 2010 - Yesterday, in Denver District Court, Pinnacol Assurance filed an application for determination of disclosure of public records concerning the Colorado Open Records Act (CORA). This application was made in response to a request from Tony Kovaleski, an investigative reporter for Channel 7. Pinnacol believes this request is not proper under Colorado law and is seeking guidance from the court on the matter.

Mr. Kovaleski is seeking information concerning a private sales incentive event for Pinnacol’s top producing independent agents. Pinnacol receives no funding from the state and therefore no public funds were expended in connection with the event identified in Channel 7’s CORA request.

Under statute, Pinnacol is mandated to operate as a private mutual insurance company and the law precludes Pinnacol from disclosing records that involve a number of factors including information that impacts rates. Therefore, Pinnacol believes that its private business activities such as this event are not public functions involving public records as defined under CORA.

In addition, the agents who attended are private citizens who are contracted to bring Pinnacol’s services to Colorado employers. It is our position that the release of the information requested could harm Pinnacol’s competitive position and is an improper intrusion into the agents’ privacy.

Other private mutual insurance companies are not required to disclose the type of information being requested by Channel 7 and we are seeking that same protection. We look forward to a speedy ruling in order to settle this matter.

About Pinnacol
For more than 90 years, Pinnacol Assurance has been Colorado’s assured and trusted source of workers’ compensation insurance for Colorado employers. Through its affiliated agents, Pinnacol provides comprehensive, competitively priced coverage; comprehensive attention to claims; a highly qualified network of medical providers; and proactive safety programs to approximately 55,000 Colorado businesses. Over the past six years, Pinnacol has returned nearly $394 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 of Communications and Public Relations
303.361.4777
suzi.stolte@pinnacol.com