Officials from Colorado’s state-chartered workers’ compensation insurer Pinnacol Assurance have some explaining to do.
The Legislative Audit Committee recently met to go over the company’s financial performance and lawmakers want to ask CEO Ken Ross about a golf trip to Pebble Beach, Calif., that was intended to reward top-producing agents.
Company officials insist the trips were justified. In a letter justifying the golf event, Ross said the company “has a duty to ensure that agent recognition events properly acknowledge the contribution of the agents to helping Pinnacol serve its policyholders and injured workers while still meeting our statutory and fiscal responsibilities. Under my direction, the board will review the company’s agent recognition practices to ensure that they support Pinnacol’s mission.”
Ross said the request for records associated with the agent recognition event must strike a balance with the disclosure of information that is legitimately a matter of public record with the disclosure of information is legitimately proprietary and which would be harmful to our competitive position.
To view Ross’ letter, visit http://www.pinnacol.com/acom_docs/GJohnson%20media%20statement_06_02_2010_FINAL.pdf.
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