Comments on: Senate Bill 281 Passes http://www.brandonshaffer.net/2009/04/13/senate-bill-281-passes/ "It is time for a new generation of leadership to cope with new problems and new oppportunities. For there is a new world to be won" - John F. Kennedy Sat, 22 Aug 2009 01:11:14 +0000 hourly 1 http://wordpress.org/?v=3.0 By: ethics http://www.brandonshaffer.net/2009/04/13/senate-bill-281-passes/comment-page-1/#comment-34 ethics Sat, 25 Apr 2009 03:50:07 +0000 http://www.brandonshaffer.net/?p=588#comment-34 Pinnacol Assurance took a nearly bankrupt Colorado Compensation Insurance Authority and in a few short years turned it into the 700 million dollar cash cow it is today. All while paying some of the highest wages and executive compensation packages in Colorado. It increases it's customer base every year. Yet miraculously it's claim history has been decreasing each year as a percentage of business for nearly a decade. That would be spectacular performance if it wasn't for the logical conclusion. Let's face it, the easiest way to accomplish this legerdemain is simply to cut costs by denying legitimate claims. If you work in Colorado, pray you never have a serious injury. You might find out first hand how the system really works. Pinnacol Assurance took a nearly bankrupt Colorado Compensation Insurance Authority and in a few short years turned it into the 700 million dollar cash cow it is today. All while paying some of the highest wages and executive compensation packages in Colorado. It increases it’s customer base every year. Yet miraculously it’s claim history has been decreasing each year as a percentage of business for nearly a decade. That would be spectacular performance if it wasn’t for the logical conclusion. Let’s face it, the easiest way to accomplish this legerdemain is simply to cut costs by denying legitimate claims. If you work in Colorado, pray you never have a serious injury. You might find out first hand how the system really works.

]]> By: SenatorShaffer http://www.brandonshaffer.net/2009/04/13/senate-bill-281-passes/comment-page-1/#comment-31 SenatorShaffer Wed, 15 Apr 2009 22:14:37 +0000 http://www.brandonshaffer.net/?p=588#comment-31 You are correct about the statute, however one of the provisions of Senate Bill 273 would have eliminated that portion of statute to allow the transfer. The House voted down Senate Bill 273 this morning. You are correct about the statute, however one of the provisions of Senate Bill 273 would have eliminated that portion of statute to allow the transfer. The House voted down Senate Bill 273 this morning.

]]> By: cwnorris http://www.brandonshaffer.net/2009/04/13/senate-bill-281-passes/comment-page-1/#comment-28 cwnorris Tue, 14 Apr 2009 04:26:41 +0000 http://www.brandonshaffer.net/?p=588#comment-28 A quick perusal of Colorado Revised Statutes reveals this(8-45-102): (5) The moneys in the Pinnacol Assurance fund shall be continuously available for the purposes of this article and shall not be transferred to or revert to the general fund of the state at the end of any fiscal year. All revenues, moneys, and assets of Pinnacol Assurance belong solely to Pinnacol Assurance. The state of Colorado has no claim to nor any interest in such revenues, moneys, and assets and shall not borrow, appropriate, or direct payments from such revenues, moneys, and assets for any purpose. Can you explain how this is not at odds with the State appropriating funds from Pinnacol Insurance? A quick perusal of Colorado Revised Statutes reveals this(8-45-102):
(5) The moneys in the Pinnacol Assurance fund shall be continuously available for the purposes of this article and shall not be transferred to or revert to the general fund of the state at the end of any fiscal year. All revenues, moneys, and assets of Pinnacol Assurance belong solely to Pinnacol Assurance. The state of Colorado has no claim to nor any interest in such revenues, moneys, and assets and shall not borrow, appropriate, or direct payments from such revenues, moneys, and assets for any purpose.

Can you explain how this is not at odds with the State appropriating funds from Pinnacol Insurance?

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