CAMPAIGN 2016: Watch CBS4 now to see live coverage of the first presidential debate between Donald Trump and Hillary Clinton. Or see it live on CBSN.

State Wants Insurance Company To Cut Severance

DENVER (AP) – Colorado wants top executives at the state-chartered workers’ compensation insurance fund to waive big severance payments if the quasi-state agency is privatized.

Gov. John Hickenlooper and Pinnacol Assurance are negotiating over a proposal to privatize the insurer. Past efforts to strike a deal have failed in disputes over the company’s value.

According to the Denver Post, the proposed deal calls for turning the insurer into a private mutual-assurance company, owned by its policyholders.

In exchange, the state would receive a 40 percent ownership stake in the new company.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Denver

NEWS TEAM
BRONCOS CENTRAL

Listen Live

AM/FM Stations

Featured Shows & Multimedia