Report: Bill Proposes $300M Buyout to Privatize Pinnacol

Colorado lawmakers are considering a bill that would privatize Pinnacol, the state-chartered workers’ compensation carrier, in exchange for a $300 million payment. The company would remain the insurer of last resort for three years before the Division of Insurance contracts with another carrier. A separate ballot initiative would ask voters to separate Pinnacol from the state in 2027 for a $150 million payment.