03/18/2010 05:12 am ET Updated May 25, 2011

Pinnacol Legislation Approved After Hostile Session

Lawmakers from a special Colorado legislative committee Friday approved seven proposed bills intended to change the operations of Pinnacol Assurance, the state's largest workers' compensation insurer, in a meeting at the state Capitol where partisan tempers flared between two state senators.

Democratic legislators on the committee approved the proposed bills along party lines -- despite warnings from Pinnacol's CEO, business leaders and Republicans on the committee that the proposals will result in higher workers'-comp premiums and create a less-stable market that has fewer safeguards for preventing fraudulent claims.

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