Posted: Aug 24, 2010 6:25 AM by Bea Karnes, News First 5
Updated: Aug 24, 2010 6:26 AM
The Colorado Division of Insurance has canceled a hearing with the state chartered worker's compensation company after reaching a settlement on rates.
The Colorado Division of Insurance said Monday that Pinnacol Assurance has reached a tentative agreement on the state's four key concerns about rates. Pinnacol's board of directors is expected to vote on the settlement agreement Tuesday.
The agency withheld details of the agreement, saying once it's approved and signed by both parties, details of the settlement will be made public.
The state said Pinnacol failed to prove that its rates were not excessive, inadequate or discriminatory.