Comment on Gov. Jared Polis wants to privatize Pinnacol, the state’s workers’ comp carrier. Will the third try be the charm?

Gov. Jared Polis wants to privatize Pinnacol, the state’s workers’ comp carrier. Will the third try be the charm?

Facing a massive budget deficit and a workforce that is decreasingly bound by state lines, Gov. Jared Polis has pitched a solution that’s been raised twice in recent memory at the Colorado Capitol: spinning off the state’s stake in Pinnacol Assurance. Privatizing the quasi-governmental insurance company would mean pulling the state out of the workers’ compensation game, while raising serious one-time money to help plug the budget — an idea that Polis hasn’t yet sold lawmakers on. Pinnacol serves as the workers’ compensation insurer of last resort for the state, ensuring that high-risk industries, such as roofing, can meet the legal requirement for coverage.

 

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