DENVER—Gov. John Hickenlooper is backing the privatization of Pinnacol Assurance but with some changes.
The governor 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.
His recommendations will be submitted to a task force studying the privatization proposal. The Denver Post ( ) reports that the task force will hold its last meeting Tuesday.
The group is made of business, labor and non-profit leaders.
After, that policyholders will be asked about the proposal. If they don’t support the measure, Hickenlooper says there’s no point asking lawmakers to pass legislation allowing privatization.
The initial deal proposed by Pinnacol would provide the state with $13.6 million a year in dividends.
———
Information from: The Denver Post,
