DENVER—Gov. John Hickenlooper and Colorado’s only state-chartered workers compensation insurer have agreed to delay a proposal to privatize the company.
Hickenlooper said Thursday more work needs to be done on the plan for Pinnacol Assurance. Hickenlooper released a letter from Pinnacol’s board of directors saying the process shouldn’t be rushed.
Hickenlooper says the Legislature shouldn’t act on the plan this session.
A task force reviewing the plan appeared cool to the current plan.
Pinnacol has had a rocky relationship with the state since it was challenged in 2011 over reports of lavish spending and excess profits, which some lawmakers said came from denying claims from injured workers. The company has denied those allegations.
Last month, Pinnacol was criticized for running ads touting the benefits of privatization.
