Colorado Workers’ Comp Privatization Gets Cool Reception

A proposal to privatize the only state-chartered workers’ compensation company is getting a cool reception from a special panel reviewing the plan.

A straw poll of the task force on Tuesday showed more than half to be opposed or neutral. The panel included business associations, labor unions, non-profits and civic leaders.

Gov. John Hickenlooper has recommended that the state’s ownership stake in the state-created workers’ insurance company be increased by $10 million to $350 million. He also wants to create a $22 million fund for injured workers.

According to the Denver Post, the governor and Pinnacol argue the privatization deal would make it clear policy holders own Pinnacol’s assets.