COMING UP: Race, Trust & Police, Tonight on CBS4 at 10 (Watch Preview)

CEO Of Workers’ Compensation Insurer Pinnacol Resigns

DENVER (AP) – The head of Colorado’s largest workers’ compensation insurer is stepping down.

Pinnacol Assurance announced CEO Ken Ross’ resignation Monday.

The company is a hybrid of public and private and has had a rocky relationship with the state since lawmakers considered taking its surplus to balance the state budget in 2009. Ross defended the company against that move and later over reports of lavish expense accounts. A task force has also studied whether to completely privatize the company.

The state created Pinnacol to provide coverage to any company that needs workers’ compensation insurance. It operates as an independent company but pays no taxes and its employers are covered by the state pension system.

The company said the market is undergoing significant change and will seek a CEO who can “forge relationships with stakeholders.”

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

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

Enter To Win!
Weather App

Listen Live

AM/FM Stations

Featured Shows & Multimedia