DENVER
04/18/2010 05:12 am ET | Updated May 25, 2011

Pinnacol Offers $200 Million To State For Greater Autonomy

The managers of Pinnacol Assurance have offered the state $200 million in exchange for greater autonomy in its workers' compensation insurance business.

The proposal comes as lawmakers are trying to craft a budget for the fiscal year that begins in July, a budget that already faces at least a $1.3 billion shortfall. The proceeds from "separating" the quasi-governmental workers' compensation insurance fund from the state could be used to help offset cuts to a variety of programs.

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