DENVER (AP) — A Colorado-chartered workers' compensation insurer will no longer administer the claims of state employees following disagreements with state officials over lavish trips, compensation, and golden parachutes for key executives.
Pinnacol Assurance's decision to bail forced Colorado to scramble to hire an independent contractor to administer claims for state workers. State Rep. Sal Pace, D-Pueblo, said about 42,000 employees were affected, including about 1,000 who have claims pending.
Pinnacol spokeswoman Suzi Stolte said Friday that the decision had nothing to do with state lawmakers' criticism after it was revealed that the company spent more than $318,000 on a five-day golf trip to Pebble Beach, Calif., and questions over its compensation and severance packages.
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